Employment hits new record with latest increase

The number of employees on the Danish labor market increased by 3,900 in January, reaching a total of 3,009,100 as per statistics released on Friday. This growth has been consistent since 2021, setting consecutive records. Employment has risen in 11 out of the last 12 months. The remarkable streak is described by Dansk Erhverv Chief Economist Tore Stramer as an ‘endless fairy tale for the Danish economy.’ Domestic economic activity, notably in the latter half of 2023, and major players like Novo Nordisk, which added 5,500 jobs in the past year, are driving factors behind this growth. Large investments by Novo Nordisk also boosted employment in supporting industries, such as construction. Government employment rose substantially by 2,500 in January, as opposed to the private sector’s increase of 1,400, with overall progress noted in both sectors, reflecting the ongoing demand for labor in the Danish economy.