The number of employed people continues to grow and has reached a new peak, according to the latest figures from Statistics Denmark. In November, there were 3,035,400 seasonally adjusted employees, which is an increase of 2,700 people compared to October.
According to Nykredit's chief economist, Palle Sørensen, it has become more the rule than the exception that employment is increasing.
- We economists can no longer really afford to be surprised that employment just keeps increasing, he writes and adds:
- It has been several years in a row now that employment has exceeded expectations by several lengths, and last year was no exception.
At Arbejdernes Landsbank, chief economist Jeppe Juul Borre also sees continued growth in employment, but he also points to risks that could negatively affect the development.
- If we end up in a trade war, it could have a negative impact on the Danish economy and employment, he writes and continues:
- For now, however, we expect continued employment growth in 2025, albeit to a lesser extent than in 2024, and we also recognize the great uncertainty for the future.
Senior economist Thomas Gress from SME Denmark emphasizes that employment growth is largely driven by foreign labor. He notes that the number of foreign employees increased by 2,900 people, which exceeds the total increase in employment.
- Without this contribution, employee employment would have stagnated, he believes, adding:
- Whether the employment records continue will - in the absence of further reforms that raise the labor supply - be a question of the influx of foreign labor.
Compared to November 2023, there have been 29,600 more employees, of which 25,300 are employed in the private sector.
jel /ritzau/
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