Employment continues to break records

In February, according to Statistics Denmark, there were 2,929,000 with employee jobs, which is 9,000 more than in January, when adjusting for the season.

Thus, the number of employees has increased by 166,000 people since January 2021.

The question then is how long the upturn can continue.

Chief economist Las Olsen from Danske Bank still believes in positive figures, even though they will probably come to an end at some point.

“It takes a lot if we are to see employment fall, because there is basically such a great shortage of labor and so many vacancies, and we also expect to see strong job numbers for the period after the invasion of Ukraine.”

“But when we look further ahead, there is a clear risk of more widespread slowdown because it is necessary to slow down and bring inflation down into the Western world.”

Tore Stramer, chief economist at Dansk Erhverv, has the same opinion.

“Rising energy prices, combined with higher interest rates and increased uncertainty from the war in Ukraine, will dampen activity in the Danish economy.”

“In addition, the significant downscaling of test activity will put pressure on employment this spring,” he said.

The increase in February has taken place in the private sector, where 10,000 more have found work, while the public sector employed 1,000 fewer.

At the industry level, it was especially hotels and restaurants that, after the corona shutdown this winter, appear to be on the rise again, with an increase of 3,000 employees.

Conversely, there were 5,000 fewer employees in the health and social care industry. This can be attributed to the fact that in February the phasing out of the test and detection efforts against covid-19 began.

Source: Politiken.dk – Forsiden by politiken.dk.

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