Early 1990s depression in Finland

This article is about the 1991–93 recession in Finland. For the worldwide impact, see early 1990s recession.

The early 1990s depression in Finland was one of the worst economic crises in Finland's history, by some considered even worse there than the 1930s Great Depression.[1]

The depression of 1991–1993 had a deep effect on the economy of Finland throughout the 1990s, especially in terms of employment but also in culture, politics and the general sociopolitical atmosphere. The gross national product decreased by 13%, and the unemployment rate rose from 3.5% to 18.9%.[2][3]

Since then, despite an overall recovery, unemployment has been persistent, and Finland has never returned to the state of nearly full employment that had existed before the crisis.

  1. ^ J. C. Conesa, T. J. Kehoe, 2007.
  2. ^ "Työmarkkinoiden toimintamuutosten analysointi". Archived from the original on 2010-04-10. Retrieved 2014-08-08.
  3. ^ Jorma, Sappinen. "Lamasta noustaan – vaikkei käännettä aina heti huomatakaan". Archived from the original on 2016-03-04. Retrieved 2014-08-08.