New figures from national agency Statistics Denmark show that there were 5,000 fewer people employed in July compared to the month before.
That decrease follows an extended period during which the record for the total number of people working in the country was consistently broken.
Almost 200,000 additional people were working in Denmark in June 2022 compared to January 2021.
High employment rates are often cited by economists as indicators of a strong economy. The total number for employment in July was 2,953,000 persons.
According to Statistics Denmark, the figure of 5,000 fewer employed comes almost exclusively from the sector defined as “public administration and service” (offentlig forvaltning og service).
Another sector, “businesses and organisations” (virksomheder og organisationer), was stable between the two months.
The new number need not set off any alarm bells but could indicate that a surge in employment subsequent to the coronavirus crisis may have peaked during the summer, an analyst said.
“This high conjuncture with the corona crisis in the background seems to be over. Things aren’t moving forward quite as quickly at the moment,” Nykredit senior economist Palle Sørensen told news wire Ritzau.
“And we are now beginning to be put under strain by the energy crisis that has come to Denmark and Europe in particular,” he said.
“We think that the energy crisis will be the trend-setting event in the coming months: How much individuals should reduce private consumption to pay these record-high energy bills that are being dropped into their post boxes,” he said.
The Statistics Denmark figure for employment is corrected for seasonal factors.