Denmark\u2019s flexible job market is now making employers more likely to “take a chance on youth” and open up positions to them, says Erik Bj\u00f8rsted, Chief Analyst at think-tank The Economic Council of the Labor movement. <\/p>\n
This is one explanation for why youth unemployment figures have fallen, according to the most recent labour force survey.<\/p>\n
The unemployment rate for under-25\u2019s has fallen from 14.8 per cent in early 2012 to 11.7 per cent in the last quarter of last year. It also fell over 2 percentage points for 25-34 year olds. <\/p>\n
Bj\u00f8rsted credits favourable market conditions for the fall. “In Denmark we have a very flexible market where it is easy to hire and fire, which gives employers confidence and means they are more likely to open up positions to youth.”<\/p>\n
Another possible explanation is that recent social benefit reforms have motivated young people to undertake further education, giving them a better chance in the labour market. <\/p>\n
“What we hear from universities is that more young people are looking towards universities for further education,” he said.<\/p>\n
However this doesn\u2019t mean youth job prospects are completely safe or that unemployment rates are destined to drop further. <\/p>\n
“There are concerns that the Danish labour market won\u2019t keep up its present pace, there are some fears that growth and employment will slow down a bit,” says Bj\u00f8rnsted. <\/p>\n
“There are also concerns that deflation in the euro area will damage export possibilities which will slow growth, so we\u2019re not necessarily safe yet.”<\/p>\n
For now, the figures mean Denmark has one of the lowest youth unemployment rates within the EU, with Germany, Holland, Austria and Malta ahead. <\/p>\n
lena.rutkowski@adm.ku.dk<\/p>\n
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