The Finnish electrical equipment manufacturing sector has exhibited varying trends in employee hours over the past decade. The sector experienced a decline in employee hours from 2013 to 2016, followed by a period of stabilization and slight growth from 2017 to 2020. A significant increase was observed from 2021 to 2023, with employee hours peaking at 28 million in 2023. The average annual growth rate over the past five years has been 2.21%. However, forecasts suggest that employee hours will stabilize and slightly decline, with a forecasted 5-year CAGR of -0.07% and a projected employee hour value of 27.8 million by 2028.
Future trends to watch for:
- Technological advancements and automation may impact labor demand.
- Talent shortages and skill mismatches could shape workforce dynamics.
- Economic factors and global supply chain changes will likely influence sector employment.