Denmark could face a shortage of 24,000 workers with business-related degrees by 2040, according to a new analysis commissioned by the trade union Djøf. The shortfall is expected to affect growth, exports and productivity in Danish companies.
The findings come from a projection of labor supply and demand for so-called Djøf profiles, including graduates in business administration, law and economics. The analysis was conducted by the research institute MBC.
Three organizations have formed an alliance in response. The Danish Chamber of Commerce (Dansk Erhverv), Djøf and Copenhagen Business School are calling for changes to education policy under a joint initiative called “Brug for business.”
According to the analysis, Danish companies will lack around 20,000 business economists, 3,000 lawyers and 1,300 economists by 2040.
The report points to several reasons for the expected shortage. These include recent reforms that reduce admissions to social science programs, as well as rising demand from companies for graduates with business skills.
Denmark’s economy relies heavily on foreign trade. Around 75,000 people with business-related academic degrees are currently employed in the private sector. The alliance warns that without changes, companies may struggle to fill key positions in the future.
“Denmark needs more business skills if we are to continue to create growth, jobs and welfare. Therefore, the question is not whether we can afford to educate more. The question is whether we can afford not to,” the three organizations said in a joint statement.
Businesses report growing competition for graduates
The alliance is calling on policymakers to reverse recent limits on university admissions in social science fields. These limits, known as sector dimensioning, were introduced to better align education with labor market needs.
The group also wants to expand the number of study places in larger cities and remove caps on international student admissions. It argues that increasing English-language programs would help attract more international talent to study and work in Denmark.
Another proposal is the creation of a national skills council. The alliance says such a body could provide independent data and analysis to guide future education reforms.
Business leaders and representatives say companies are already competing for graduates in these fields.
“Denmark is and has always been a proud trading nation. We live in a time of, for example, trade wars, where we need experts to ensure Danish growth and exports,” said Brian Mikkelsen, director of the Danish Chamber of Commerce.
He added that companies are hiring social science graduates quickly and offering high salaries. “The fact that we are turning away talented young people at the door of the universities is deeply harmful to Danish business,” he said.
Sara Vergo, chair of Djøf, said demand for graduates is already strong across several industries, including biotech, retail, energy and pharmaceuticals.
“Companies are already fighting over our newly graduated academics with business skills. Two out of three of our newly graduated social science and business economics graduates go directly to private companies,” she said.
Vergo said the shortage is likely to increase in the coming years if current policies remain in place.
Peter Møllgaard, rector of Copenhagen Business School, said there is both student interest and employer demand for business education.
“Thousands of young people are considering studying at CBS. We have space for their dream education, and the companies are ready with their dream jobs,” he said.
The alliance argues that aligning education policy with labor market demand is necessary to maintain Denmark’s competitiveness in the global economy.
