More Danes to lose their jobs

1,307 people given notice in March

A large number of Danes will lost their jobs in the near future, according to the latest figures from the labour market authorities Arbejdsmarkedsstyrelsen.

The figures show that the number of people who have received notice of employment termination has shot up from 578 people in February to 1,307 people in March – an increase of 126 percent.

“It’s disappointing,” Tore Stramer, the chief analyst at Nykredit bank, told Jyllands-Posten newspaper. “It’s a tough pill to swallow considering that the recent focus has primarily been on the coming upswing in the Danish economy.”

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Industry woes
The spike in redundancies has been particularly prevalent in the industrial sector, which accounts for more than one third of the total terminations. The finance and insurance sectors are also in the mix, combining for a 30 percent share of the layoffs.

“It goes to show that the upswing is weak and has not yet managed to gain a broad foothold in the Danish economy,” Stramer said.

Fortunately, there is some good news in the construction sector, which has accounted for none of the pink slips.