Biggest income rise in 30 years in Denmark

In the last year, incomes in Denmark have surged due to favorable financial markets, high employment, and substantial wage increases. According to the Danish statistics bureau, Danmarks Statistik, the average pre-tax income for individuals over 15 was 395,500 kroner, marking a 6.3% rise from 2022 and the most significant percentage increase in three decades. Despite the spike, the real income, when considering inflation, still has room to grow before reaching the provisional peak seen in 2021. Real income dropped by 6.9% in 2022 due to high inflation and only increased by 3.0% last year. Moreover, the earnings gap between men and women persists, with men being the higher earners in 70% of couples. Despite these gaps, financial analysts expect incomes to continue rising in 2024, with wages outpacing inflation in both the private and public sectors.