Employment hits another record: Up by 2,600

Employment, alongside the pharmaceutical industry, has been a positive narrative in the Danish economy over the last year. Statistics Denmark announced a rise of 2,600 in wage-earner employment for March, totaling 3,016,400 individuals. Over the past year, employment has increased by 32,400 with growth in 11 of the last 12 months. Sydbank’s Chief Economist Søren Kristensen notes this is good news for individuals and the economy, strengthening financial flexibility. Steen Nielsen of Dansk Industri attributes the growth to foreign labor, responsible for nine out of ten new jobs in the past year, which significantly boosts the state treasury. Mette Hørdum from Lederne suggests that the increase may be due to companies retaining staff amid a shortage of skilled Danish workers. Despite predictions of a fall in employment last autumn, economists, including those from Dansk Industri and the Ministry of Economic Affairs, now expect employment to grow in 2024.