The Unemployment Insurance Fund monitors the situation on the labor market and is also ready for rising unemployment.Photo: Liis Treimann
Nine companies have notified the Unemployment Insurance Fund of collective redundancies since Russia’s large-scale military invasion of Ukraine, but in no case has the effect of sanctions or broken business ties been attributed.
According to Annika Koppel, the head of communications at the Unemployment Insurance Fund, sanctions, trade with Russia and related reasons will certainly have an impact on the economy and the labor market, but it will be difficult to say today when this impact will be felt and how big it will be. “But we are monitoring the situation and we are also ready for rising unemployment.”
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