Surprising decline in unemployment
04-03-2010
11:59
From December to January the registered unemployment fell by 200 persons, corresponding to an unchanged unemployment rate of 4.2 per cent of the labour force. The January unemployment was thus 118.000 persons.
It had been expected that the unemployment would increase by 4600 persons to 4.5 per cent, so today’s figures are a positive sign for Danish economy which is affected negatively by a weak economic growth and big budget deficits.
Nordea comments:
»So far we have only seen the top of the iceberg, and we expect that 2010 will be a year with increasing unemployment figures,« chief economist Helge J. Pedersen at Nordea said
Helge Pedersen expects an increasing unemployment because the businesses will gradually adjust the large idle capacity to a lower demand.
»We do not expect that the adjustment will be completed until some time during 2011. At that time the number of full-time unemployed will probably have passed 175.000 persons. So, although the number of unemployed declined in January, there is still a long way to go before the number of unemployed will again decrease,« Helge J. Pedersen said.
Danske Bank comments:
Chief economist Steen Bocian at Danske Bank is extremely pleased with today’s unemployment figures. He had expected that the number of unemployed would increase by 2500 persons, while, on the contrary, the number decreased by 200 persons.
He thinks it is remarkable that the unemployment has fallen in spite of a very severe winter which has hit the weather-sensitive employment harder than normally.
»It is important to note that one swallow does not make a summer, but we see a very significant change in the crisis dynamics on the labour market. The fact that the unemployment has decreased for two successive months makes us conclude that the labour market is definitely improving,« he said.
It had been expected that the unemployment would increase by 4600 persons to 4.5 per cent, so today’s figures are a positive sign for Danish economy which is affected negatively by a weak economic growth and big budget deficits.
Nordea comments:
»So far we have only seen the top of the iceberg, and we expect that 2010 will be a year with increasing unemployment figures,« chief economist Helge J. Pedersen at Nordea said
Helge Pedersen expects an increasing unemployment because the businesses will gradually adjust the large idle capacity to a lower demand.
»We do not expect that the adjustment will be completed until some time during 2011. At that time the number of full-time unemployed will probably have passed 175.000 persons. So, although the number of unemployed declined in January, there is still a long way to go before the number of unemployed will again decrease,« Helge J. Pedersen said.
Danske Bank comments:
Chief economist Steen Bocian at Danske Bank is extremely pleased with today’s unemployment figures. He had expected that the number of unemployed would increase by 2500 persons, while, on the contrary, the number decreased by 200 persons.
He thinks it is remarkable that the unemployment has fallen in spite of a very severe winter which has hit the weather-sensitive employment harder than normally.
»It is important to note that one swallow does not make a summer, but we see a very significant change in the crisis dynamics on the labour market. The fact that the unemployment has decreased for two successive months makes us conclude that the labour market is definitely improving,« he said.
*****||*****Surprising decline in unemployment*****||*****From December to January the registered unemployment fell by 200 persons, corresponding to an unchanged unemployment rate of 4.2 per cent of the labour force. The January unemployment was thus 118.000 persons.
It had been expected that the unemployment would increase by 4600 persons to 4.5 per cent, so today’s figures are a positive sign for Danish economy which is affected negatively by a weak economic growth and big budget deficits.*****||*****
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