After a nightmarish spring, the Danish job market rebounded strongly in September, with a year-on-year rise in job postings of 16% compared to September 2019. In June, July, and August 2020 the number of job postings had already reached near-2019 levels. However, a full recovery has not yet been achieved.
Our detailed HBS-Jobintel database shows that companies have not yet compensated for the unprecedented fall in demand in the spring. Only the public sector and the construction sector have fully caught up, with the total amount of job postings in those sectors between January and September 2020 surpassing the total amount in the same period last year. On the whole job market, there have been 10% fewer job postings in the first 9 months of 2020 than in the first 9 months of 2019.
Furthermore, many joined the job market after firing rounds in the fall, which means more people are fighting for a comparable number of jobs. For 2020 to be as good a year as 2019 for the Danish job market, the trend from September will have to continue into the fall and winter months, a trend that requires few if any additional restrictions and therefore control over the public health situation. Read more (in Danish) here:
Links
HBS Economics (2020): "Arbejdsmarkedsovervågning: Udvikling i antallet af jobopslag i 2020".
