View from the Ground
The Danish market continues to be characterised by its low rate of unemployment and an economy which continues to improve. Therefore, we are seeing an increasing mismatch between the skills available in the market, and those skills in high demand by organisations. This is leading to companies filling vacancies with workers from more widely varying backgrounds and not necessarily with the desired experience and skills. This growing demand for highly skilled profiles is also being felt by organisations, as the demand further underlines the increasing wage pressure due to businesses paying a premium for the skills they require. The continued development of technology has made it easier for Danish companies to attract people from outside of the country, which is essential when the right skills can’t be found locally.
Marc Lutz, Nordic Director, Hays Nordics
Key Skills in Demand
- Software Developers
- Marketing Specialists – Digital/ Communications
- Mechanical Engineers
- Regulatory Affairs Managers/ Quality Assurance Managers
- Medical Advisors
In 2018, the Danish economy grew by 1.6%. This growth reflected a 2.6% rise in domestic demand, partly offset by a negative net trade contribution. This benign economic performance is expected to continue over the medium term, driven by private consumption and business investment spending.
Employment rose by 1.8% in 2018. This increase reflected an expansion in employment in business services, transport and logistics, and the public sector. There is some evidence that skills shortages are rising and are being increasingly reported as a limitation to production, particularly in services and cyclical sectors such as construction. Reported job vacancies have continued to rise. The unemployment rate has declined to its lowest post-financial crisis level at 5.0% in 2018. Of which, just under a fifth are long-term unemployed.