Job vacancies rise again in Q2

In the second quarter, Denmark saw an increase in job vacancies in the private sector to 51,900, which is 700 more than in the first quarter of the year, according to Denmarks Statistik. This marks a continuous rise over the last two quarters, suggesting a persistent overheated labor market, says Palle Sørensen, Chief Economist at Nykredit. Prior to the pandemic, there were only 36,000 job vacancies. Steen Nielsen, Vice Director at Danish Industry, notes that job vacancies have never approached 50,000 before 2021. Currently, there are about 1.7 job seekers for every vacancy, down from 3 in 2019, indicating a high rate of quick reemployment for the jobless. Jeppe Juul Borre, Chief Economist at Arbejdernes Landsbank, observes that in July alone 20,000 new jobs were posted, a number that is consistent with pre-pandemic figures and among the highest in over 20 years for that month.