The result for the first half of the year showed a surplus: higher unemployment insurance contributions increased revenue, and the savings measures included in the Government Programme further reduced the financing contributions paid by the Fund.
In the first half of the year, the Finnish economy showed signs of recovery, economic growth picked up and consumer confidence improved. However, at the same time, unemployment increased. There have also been further changes in the structure of the unemployment: the number of recipients of earnings-related daily allowance has decreased while at the same time, the number of recipients of labour market subsidy (from 1 May 2026: general social security benefit) has increased compared to 2025. Continuation of the war in Ukraine, together with instability and military strikes Middle East, remain a source of uncertainty in the global economy.
The Fund posted a surplus for the first half of the year, a result of higher income and lower expenses. Unemployment insurance contributions were increased by 0.6 percentage points for 2026 from a historically low level after two years of substantial decreases. The measure boosted the Fund’s income. The spending cuts set out in the Government Programme reduced earnings-related unemployment security expenses. As a result, the Fund’s financing expenses were lower than in previous years even though unemployment increased.
Employment Funds Managing Director Karo Nukarinen
The contributions collected and financing contributions paid also include the government and municipality contributions. Figures for January – June 2025 are given in brackets.
The amount of unemployment insurance contributions collected by the Fund was substantially higher, this was because the unemployment insurance contributions for 2026 were increased.
The financing contributions paid by the Fund were substantially lower even though unemployment was higher. The impacts of the measures set out in the Government Programme still manifested themselves in a decrease in expenditure on earnings-related unemployment security and in the expenditure on pension security accrued during the period of earnings-related unemployment security.
Fund’s half-year result (change in net position) exceeded preliminary estimates and showed a surplus.
CSAT score (proportion of satisfied and very satisfied respondents) for our unemployment insurance contribution service was 83% (86%) in the first half of the year. Our telephone service was the service channel posting the best results: in this channel, 87% (92%) of the respondents were satisfied with the service they received.
CSAT of the online service improved substantially (from 32% to 46%) but it is still lower than the score for the other channels and thus lowers the overall customer satisfaction score.
We continued to update our unemployment insurance contribution services, the aim of which is to ensure a smoother customer experience and efficient services.
The reforms are supported by the strengthened IT capabilities introduced last year, which create a sustainable basis for the long-term development of our services.
There were changes in the composition of Employment Fund’s Management Group and Supervisory Board during the first half of 2026.
Karo Nukarinen started as the Managing Director of Employment Fund on 1 January 2026. Before that, he served as the Fund’s Chief Financial Officer. The Fund’s Board of Directors appointed Henri Pohjanen as the new Chief Financial Officer at its March meeting. Pohjanen started in his position on 31 March 2026.
The Ministry of Social Affairs and Health appointed the following persons to the Fund’s Supervisory Board during the first half of the year:
The organisational level results of the pulse survey that we carried out in spring improved in all areas, and the eNPS reached +4.3 (-7.4), which was 11.7 points higher compared to the previous score. The results highlight the support and sense of togetherness in the work community, the experience of meaningful work, strong competence and professional pride as strengths. The respondents also felt that work management has developed in a positive direction.
We provided training for all Fund employees to strengthen understanding of the themes and the way in which they are present in our daily work. We prepared for the national transposition of the EU Pay Transparency Directive by developing the description of our pay system and by examining job descriptions and job evaluations.
Abolition of the adult education benefits had a major impact on the operations and human resources of the benefit service and the service areas supporting it. The last employment relationships terminated on the basis of the abolition of adult education benefits ended during the first half of 2026. Some of the employees who were dismissed as a result of the closure of the benefit service were transferred to other tasks in the Fund during the transition period 2024–2026.
