Danish employment up for 17th consecutive month
Employment in Denmark is still increasing despite inflation and high prices, as businesses struggle to meet their labour needs.
New data from national agency Statistics Denmark shows that 7,000 more people were employed in the country in June compared to May. That corresponds to a 2 percent increase in the employment figure.
The number of people in employment has now increased for 17 months in a row, going back to the beginning of 2021.
Since January of last year, 199,000 new jobs have been created with the total in employment now at 2,693,000.
“These are strong numbers which don’t reflect the increasing pessimism other metrics show in the business sector,” Danske Bank senior economist Las Olsen told news wire Ritzau in a written comment on the latest figures.
“Although it might be less busy in some places, there is clearly still a need for people to be able to keep up with demand,” he said.
READ ALSO: Danish businesses repeat call for foreign workers amid labour shortage
Employment is expected to peak despite the consistent increase seen going back two winters.
Factors such as inflation, rising interest rates and the war in Ukraine are expected to limit employment, although a sharp downturn is not necessarily expected.
“We expect a relatively mild saturation in the Danish economy. That is because competitiveness is strong and households are well supplied,” Erik Bjørsted, senior economist with Dansk Metal, told Ritzau.
“In addition, Danish companies are amongst the most energy-efficient in the world, and that is a big advantage in the current situation with scarce and expensive energy resources,” he said.
The growth in the number of jobs occurred only in the private sector. The number of people working in public administration and services in largely unchanged, Ritzau writes.
Around 2.1 million people worked in Denmark’s private sector as of June, with 870,000 public sector employees.
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New data from national agency Statistics Denmark shows that 7,000 more people were employed in the country in June compared to May. That corresponds to a 2 percent increase in the employment figure.
The number of people in employment has now increased for 17 months in a row, going back to the beginning of 2021.
Since January of last year, 199,000 new jobs have been created with the total in employment now at 2,693,000.
“These are strong numbers which don’t reflect the increasing pessimism other metrics show in the business sector,” Danske Bank senior economist Las Olsen told news wire Ritzau in a written comment on the latest figures.
“Although it might be less busy in some places, there is clearly still a need for people to be able to keep up with demand,” he said.
READ ALSO: Danish businesses repeat call for foreign workers amid labour shortage
Employment is expected to peak despite the consistent increase seen going back two winters.
Factors such as inflation, rising interest rates and the war in Ukraine are expected to limit employment, although a sharp downturn is not necessarily expected.
“We expect a relatively mild saturation in the Danish economy. That is because competitiveness is strong and households are well supplied,” Erik Bjørsted, senior economist with Dansk Metal, told Ritzau.
“In addition, Danish companies are amongst the most energy-efficient in the world, and that is a big advantage in the current situation with scarce and expensive energy resources,” he said.
The growth in the number of jobs occurred only in the private sector. The number of people working in public administration and services in largely unchanged, Ritzau writes.
Around 2.1 million people worked in Denmark’s private sector as of June, with 870,000 public sector employees.
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