Denmark economy: Unemployment falls in May

Event

Figures published by Statistics Denmark show a decline in unemployment during May. The gross unemployment rate (national measure) fell slightly to a seasonally adjusted 5.8% of the workforce in May 2013, compared with 5.9% a month earlier. Meanwhile, the seasonally adjusted EU harmonised jobless rate published by Eurostat registered 6.8% in May, down from 7% in April.

Analysis

Unemployment in Denmark fell by a seasonally adjusted 2,659 in May 2013, pulling the jobless total down to 153,520 – the lowest since October 2009. The number of people out of work stood 8,579 lower in May compared with a year earlier (the fourth consecutive month in which unemployment has been below year-earlier levels).

Meanwhile, the gross unemployment rate (national measure) fell modestly to a seasonally adjusted 5.8% of the workforce in May 2013, versus 5.9% the previous month. During 2013 so far, the jobless rate has moved in a tight 5.8-6% range, following an average outturn of just over 6.1% in 2012. A breakdown by age group reveals that the unemployment rate fell in all categories during May (albeit by just 0.1 percentage points compared with April), with the exception of those aged 60 and above, where the rate was unchanged. As in many other European countries, the youth unemployment rate in Denmark remains high relative to the overall jobless rate. At 9.7% among 25-29 year-olds, it stands above the 9.4% recorded in the same month last year.

Article from:

Read the full articlepdf10.85 kB

EY refers to one or more of the member firms of Ernst & Young Global Limited (EYG), a UK private company limited by guarantee. EYG is the principal governance entity of the global EY organization and does not provide any service to clients. Services are provided by EYG member firms. Each of EYG and its member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Certain content on this site may have been prepared by one or more EYG member firms