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Unemployment Insurance Fund (TVR): Unemployment Insurance Fund's (TVR) estimate of the Full-year result has changed

Unemployment Insurance Fund     Stock Exchange Release     21 March 2017 at 11:00                                                         

Unemployment Insurance Fund`s (TVR) estimate of the Full-year result has changed

TVR presented on 30 August 2016 the Budget for 2017 according to which was the change of the net position estimated to be positive 73 million euros. Based on the latest official statistics TVR estimates that the number of persons unemployed would diminish by four percent in 2017 compared to 2016. At the same time there are signs that the total amount of unemployment benefit payments made by the unemployment funds has been in a decline. TVR states further to this that there is certain amount of uncertainty regarding the development of the global economy and it`s impact on the near term development of the Finnish economy and employment.

According to the latest estimate by TVR`s  Board of Directors it is stated that the total amount of unemployment benefits and other benefits financed by TVR would diminish by three to four percent in 2017 compared to 2016. Therefore TVR estimates the Full-year result for 2017 to improve compared to the Budget. The latest estimate of the Full-year result is positive approximately 200 - 300 million euros. The net position is estimated to be negative approximately 260 - 160 million euros at the end of year 2017.

Additional  information:

Janne Metsämäki, Managing Director. tel. +358 40 522 3614
Tapio Oksanen, Deputy Managing Director, CFO tel. +358 40 539 4651

Helsinki, 21 March 2017

Unemployment Insurance Fund (TVR)

Tapio Oksanen
Deputy Managing Director


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Source: Työttömyysvakuutusrahasto via GlobeNewswire