09.09.2026
Ingredients for growth visible – labour demand has not revived
Recent economic data do not come as a big surprise. The turnover of industries continues to grow steadily, but the number of employees has not started to increase. In several clusters, such as ICT, the number of employees is on a downward trend. Only in the metal cluster has the labour force increased moderately.
Recruitment is increasingly affected by general uncertainty and technological developments. However, the growth in turnover in the industries is so strong that employment is likely to improve. The big question is when and where is it going to happen? However, excessive credit for the long-term positive impact of major projects on labour demand may be unrealistic.
The situation of the ICT cluster, which is important for Oulu, is challenging. Revenue is increasing, but personnel is in a relatively strong decline. The ICT cluster has been characterized by strong monthly turnover fluctuations, in April the growth from the previous year was 12.1 per cent, but in May came down by 5.9 per cent. The impact of AI can be seen in the demand for the cluster's workforce, at least indirectly. Companies closely monitor the development and deployment of AI and anticipate the need for workforce in relation to it. The trump card of the future is 6G mobile technology, the developer of which Oulu plays a key role globally.
Relatively lively construction
Construction has been active for several months. From 2025, net sales increased by 2.3 per cent and the number of employees decreased by the same amount. Residential construction is still quiet, but some new projects have started. The growth in net sales has come from the construction of industry, tourism and the public sector. Oulu hotel projects and later data centers will significantly increase construction. The key to data centers is how much of it is accessible to local companies and what is the capacity of the area's civil engineering
The electricity and energy cluster and the metal cluster are growing strongly. The growth of both from 2025 is in the order of 10%. In the metal cluster, the number of employees has also increased. Net sales growth has been more moderate in wholesale and retail trade and tourism, where the number of personnel has been decreasing. The year-on-year change in the wood and furniture industry was as much as 13.8 per cent and there was also an increase in the number of personnel. In all clusters, seasonality is high, especially in construction.
There is room for growth in digital services
The service sector in Finland is less developed than in the comparator countries, which is also visible in Northern Ostrobothnia. The use of services is still difficult for many in our culture. Jobs in trade and services are important, especially for young people. The growth of many industries also depends on the development of digital services, including in the clean transition.
In Northern Ostrobothnia, four scenarios for broad participation were prepared for 2050. Scenario work also includes measures to make the region successful. After the scenario work, artificial intelligence has gained even more predominant importance, even though it was on the terms of Global Technology - a prominent feature of the scenario. The importance of global digital giants is also central to the development of artificial intelligence. North Ostrobothnia is now well-developed due to its strong technological know-how, but the situation is constantly evolving. In any case, artificial intelligence will change the economy, education and the labour market permanently.
More about the cycle: Business cycle monitoring - Regional Assembly of Oulu Region
