‘Insatiable’ Labor Demand Fuels Nordic Job Gains to Records
Two Nordic economies are seeing record job gains spurred by a rapid recovery from the Covid-19 pandemic.
Finland now has more people working than at any point during the past 30 years, with demand even pulling previously unemployed people back to the work force, Pasi Kuoppamaki, chief economist at Danske Bank A/S in Helsinki said, citing statistics published on Tuesday.
Denmark added 7,000 new jobs in July, a sixth month of gains, boosting employment to a record.
“We are apparently still seeing an insatiable demand for labor” in Denmark, said Jes Asmussen, chief economist at Svenska Handelsbanken AB in Copenhagen. “That is of course pleasing. The other side of the coin is that demand is increasing so rapidly that companies can’t find enough hands to fill vacancies.”
The trend could potentially slow economic growth, Asmussen said.
Read More: Robust Nordic Rebound to Test Labor Market Flexibility: Nordea
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