HELSINKI (Reuters) -Finland’s monthly unemployment rate rose to a 20-year high of 10% in August, data from Statistics Finland showed on Tuesday, as the Nordic country struggles to stave off a persistent economic stagnation.

In the second quarter of the year, only Spain’s quarterly unemployment rate, at 10.29%, stood higher among euro zone member states than that of Finland at 10.2%.

The Finnish economy has been hit hard by global economic turmoil and uncertainty stemming from the war in Ukraine, with trade with neighbouring Russia drying up and export companies hampered by the subsequent energy crisis pushing up costs.

Finland’s economy contracted 0.9% in 2023 and grew by 0.4% in 2024, while its finance ministry on Monday forecast sluggish 1% growth for this year. The monthly unemployme

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