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Denmark
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Denmark
Denmark, with a GDP of $404 billion, ranks 35th globally. Key industries include wind turbines and pharmaceuticals. The 5.1% unemployment rate indicates a steady labor market, despite a future challenge from an aging population. A low gender gap in workforce participation enhances talent sourcing, supported by numerous recruitment agencies.
Denmark'S
AGENCY LANDSCAPE
1.1K
Agencies operating in Denmark
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
15-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Denmark'S
FEATURED AGENCIES
Gavdi
Nordic Jobs Worldwide
Get featured here
Denmark'S
GROSS DOMESTIC PRODUCT (GDP) RATING
35
WORLD RANKED
Denmark ranks 35th in the world by current economic output
$404B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
19
EMEA RANKED
Denmark is the 19th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Denmark's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Denmark'S
CURRENCY AND CODE
Dkr
Country currency
DNK
Country ISO code
Denmark'S
INFLATION RATE
1.5%
CURRENT RATE
▼1.9% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Denmark'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Denmark'S
LABOUR STATISTICS
5.9M
POPULATION
With a population of 5,873,420, Denmark is a small sized country by global standards. Denmark's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Denmark is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Denmark's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Denmark'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Denmark'S
UNEMPLOYMENT RATE
5.1%
CURRENT PERCENTAGE
▲0.71% INCREASE
Denmark has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a moderate increase in unemployment, suggesting a negative shift in economic stability with a slight dip in job availability
Denmark'S
TOP PERFORMING INDUSTRIES
Top industries
Pharmaceuticals
Machinery and transportation equipment
Wind turbines
Denmark'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
68
/
60
Male | Female
In Denmark there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Denmark'S
WORKING LIFE
$68K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$5.6K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Denmark'S
WORKING LIFE
14DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
37HRS
Average working full time week
Standard work hours are set at 7 hours per day and 37 hours per week, typically from Monday to Friday. Overtime pay applies for hours worked beyond these limits.
Denmark'S
TOP BENEFITS
13WEEKS
Maternity leave
Denmark offers combined maternity/paternity leave with 100% pay for legal parents, including 4 weeks pre-birth, 2 weeks post-birth, and 22 weeks with possible extensions. Social Security covers pay.
26WEEKS
Sick leave
Employees get paid sick leave: 100% salary by the employer for the first 30 days, followed by up to DKK 4,405/week from social security or lower if the regular salary is less, up to 26 weeks.
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