A recent study by the Helsinki Region Chamber of Commerce’s Forecasting Chamber (Ennakointikamari) has revealed a significant drop in labor demand in Uusimaa, outpacing the national trend in Finland. In September 2023, approximately 17,600 new job openings were reported in Uusimaa, marking a nearly 47% decrease compared to the same period in 2022. This decline is more pronounced than the overall Finnish decrease of 36% in new job vacancies.
The sharp downturn follows a peak in labor demand in 2022. "After last year's high demand for labor, we've seen a clear drop. However, the increase in unemployment is still nowhere near the levels experienced during the pandemic. Despite challenging times, we don't foresee an explosion in unemployment rates in the near future," says Olli Oja, Project Manager at the Helsinki Region Chamber of Commerce’s Forecasting Chamber.
A survey conducted by the Helsinki Region Chamber of Commerce in September among its member companies revealed cautious optimism. Only 10% of respondents anticipated a decrease in recruitment needs over the next six months, while 49% expected their recruitment needs to remain stable. The remaining respondents foresaw an increase in hiring.
Comparatively, recruitment prospects have dampened since the autumn of 2022. A year ago, 48% of companies reported an increase in their recruitment needs.
The member survey of the Helsinki Region Chamber of Commerce included responses from 265 companies, primarily from top management. The survey, conducted from September 6 to 11, 2023, included businesses of various sizes, with 80% representing companies with fewer than 50 employees.
The Helsinki Region Chamber of Commerce, with around 7,400 member companies, coordinates the Forecasting Chamber. This network unites labor and economic administrations, businesses, educational institutions, and regional governance. It includes numerous educational and training organizations, the University of Helsinki, the Uusimaa Regional Council, the Uusimaa Centre for Economic Development, Transport and the Environment, the Uusimaa Employment and Economic Development Office, and the Chamber itself. The Forecasting Chamber meets biannually to devise practical solutions and actions for employment issues in Uusimaa, producing two situational reports annually.