Economic Survey, August 2007 - English Summary

28-08-2007

Economic Survey, August 2007 - English Summary

The Danish economy is now at the peak of the business cycle with very high levels of capacity utilization and employment. The unemployment rate has fallen more than expected to 3¼ per cent of the labour force. This is the lowest unemployment rate since 1974.

The upturn has been prolonged by a strong increase in the labour force. This reflects increased working hours and higher participation rates among young people and immigrants. Furthermore, cross-border workers from Sweden and Germany have contributed to boost employment along with people from the new EU member states. It is roughly estimated that around one third of the growth in employment rates from 2005 to 2007 can be seen as a permanent or structural increase in employment.

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