Unemployment rose slightly in June. The seasonally adjusted unemployment increased by 300 full-time unemployed to 93,500 in June. The slightly rising trend continues.
The Agency for Labour Market and Recruitment, Njalsgade 72A (Photo: © Christian Lindgren, Ritzau Scanpix) 41 minutes ago
Unemployment continued its slightly rising trend in June. This is shown by figures from the Agency for Labour Market and Recruitment, published today.
Seasonally adjusted unemployment is calculated at 93,500 people, which is 300 more than the previous month. This corresponds to an unemployment rate of 3.1 percent.
There are 78,100 recipients of unemployment benefits and 15,400 recipients of cash benefits.
As mentioned, unemployment has been slightly rising since autumn, and over the past year it has grown by 6,200 people.
This is offset, however, by the fact that employment has increased much more over the same period.
Although it may sound contradictory that both unemployment and employment can rise at the same time, this is because the labour force continues to grow.
This is both because a growing number of older people continue working instead of retiring, and because foreigners continue to come here to work.
This has meant that the number of employed has risen by around 32,000 people over the past year.
----------------------------
Continued strong labour market
----------------------------
Therefore, chief analyst Jesper Grunnet-Lauridsen from 3F still sees the Danish labour market as strong.
He explains the rising unemployment partly by recent layoff rounds in a number of larger companies and by more Ukrainian refugees who have just arrived and are included in the unemployment figures.
"Unemployment remains low in a historical perspective, and experience shows that the Danish labour market is strong even in periods of increased uncertainty."
"In recent years, the labour market has proven robust against both high inflation, rising interest rates and turmoil in the global economy."
"We therefore expect continued low unemployment through 2026, but are closely monitoring developments in particularly energy prices, interest rates and the international economy," he writes in a comment.
Seasonal adjustment is a statistical method used to remove the regular fluctuations that recur at specific times of the year, so that the underlying trend in a data series can be better observed.
Many economic indicators – for example unemployment – are affected by seasons, holidays, vacation periods and recurring behavioural patterns.
If you do not correct for this, you can easily misinterpret normal seasonal fluctuations as actual economic changes.
/Ritzau
Warning: This article was translated by a Large Language Model, in case of doubt, you can always visit the original source.