Employment rate of KOKO members weakened in 2023

The employment rate of KOKO members weakened during 2023. During the year, the fund received a total of 102 503 earnings-related daily allowance applications, which is 12% more than in 2022, when 91 589 applications were received. A total of 14 336 first applications were received (2022: 8 278).

In 2023, the unemployment rate among KOKO members was 2.9% on average (2022: 2.7%). The unemployment rate was at its highest in November at 3.4% and at its lowest in February, April and June at 2.7%.

The number of job alternation compensation applications continued to remain low at KOKO. In 2023, the unemployment fund received 211 job alternation applications, which is 46 applications more than in 2022. Only 167 mobility assistance applications were received (2022: 177).

The unemployment funds started paying a new benefit, transition security allowance, when the transition security legislation entered into force on 1 January 2023. KOKO received 198 applications for transition security allowance in 2023.

Increased number of daily allowance applications received in the beginning of 2024

The number of applications at KOKO has continued to grow in 2024. The number of applications is also affected by the merger of the Unemployment Fund for Special Service and Clerical Employees (ETTK) with KOKO at the beginning of 2024.

When comparing this year’s figures with the number of applications received by KOKO and ETTK last year, the number of first applications received in January this year was 39% higher than in January 2023 for both funds combined. A total of 10 283 monthly follow-up applications have been received, which is approximately 1 300 applications more than in 2023.

Over 270 000 KOKO members

KOKO increased the number of its members by more than 7 200 members in 2023. At the end of the year, there were 250 537 members. After the merger of ETTK, the number of KOKO members increased to 270 416.