Number of employees in mechanical engineering returns to its highest level since the financial crisis
At the end of June 2026, the number of employees in the mechanical engineering industry returned to its highest level since the financial crisis. New orders, order books and demand were also on the rise in the whole technology industry in the second quarter. Despite geopolitical and trade policy uncertainties, the industry is well poised to see further growth.
The largest main sector of the technology industry, mechanical engineering, had 138,200 people on its payroll at the end of June. According to Technology Industries of Finland’s latest survey of order books and personnel, the number of employees returned to its early-2023 level, when it was at a post-financial crisis high. The personnel headcount was 2,500 greater than during the worst of the economic downturn.
At the same time, the balance figure for tender requests, which indicates overall demand among companies in the technology industry, rose to its highest since the end of 2021.
“Production has been growing steadily in the mechanical engineering industry for over a year now. Order books have gained strength since the end of 2024, driven in part by the marine and defence industries, and the employment situation is rather good. This bodes well for Finland’s employment situation more broadly. Coming after a long sluggish economic cycle, this is extremely welcome news for the Finnish economy,” says Hanne Mikkonen, Senior Economist at Technology Industries of Finland.
New orders up by 13 per cent
The total number of personnel in the technology industry saw a slight decline in the second quarter of 2026 due to a downward trend in employment in services, that is, information technology and consulting engineering. However, the value of new orders rose by 13 per cent from the first quarter and by 19 per cent from the corresponding period of 2025.
At the end of June, the value of order books was 8 per cent greater than at the end of March.
“New order intake has been particularly strong in the manufacturing sector. Recent growth drivers have included not only the marine industry and the defence sector, but also investments in data centres and energy solutions,” Mikkonen says.
The balance figure for tender requests, which indicates overall demand among companies in the technology industry, stood at +20 at the end of June. The balance figure has risen steadily for over a year. This trend partly reflects the pickup in market activity and the gradual improvement in the economic situation of the technology industry.
Turnover in the technology industry exceeds EUR 100 billion
In 2025, the turnover of technology industry companies grew by 2.8 per cent year-on-year to EUR 104 billion. It is estimated that turnover also increased in January–April 2026 in all five major sectors of the technology industry.
Thanks to this positive economic trend, export companies are in a better position to make investments, step up their production and hire more employees. That said, erratic tariff policies and the war in Iran continue to pose uncertainty in the global economy.
Taina Susiluoto, CEO of Technology Industries of Finland, encourages companies to seize the opportunities opened up by growth in demand.
“Long-awaited signs of growth are now on the horizon. Companies should thus boldly consider launching new investments. Finland has taken steps in the right direction to improve competitiveness. Bolstering a competitive and predictable business environment over the long term encourages companies to invest and innovate, increase their production in a sustainable manner and create new jobs. We should keep going down this path,” says Susiluoto.
Further information
Mikkonen Hanne
Senior Economist – Economic Development and Investment Technology Industries of Finland