High employment in December marks record year

In December, the number of employed wage earners in Denmark increased again, reaching 3,005,900, which is 1,300 more than the previous month, according to Statistics Denmark. This continued a trend of increases since January 2021, except for a decline in July, with employment hitting over three million for the first time ever in September. Private sector growth, particularly in businesses and organizations, drove the December increase. Although the total number of jobs increased by 31,100 in 2023, Tore Stramer, Chief Economist at Danish Chamber of Commerce, and Anton Thorell Steinø from Arbejdernes Landsbank predict a potential decrease in employment in 2024 due to factors such as high-interest rates dampening investment, which could lead to slower hiring or layoffs. Employment Minister Ane Halsboe-Jørgensen remains optimistic, noting opportunities to integrate the approximately 43,000 unemployed youths into the workforce.