Denmark might be in the red in 2009 - but we still need qualified candidates!

In recent weeks, the Organisation for Economic Co-operation and Development, OECD, and the International Monetary Fund, IMF, have both issued gloomy forecasts for economic growth in the United States, Japan and Europe. The two organisations expect low growth in 2009 as a result of the financial crisis.

In the wake of these reports, DI has updated its latest prognosis in which Chief Economist Klaus Rasmussen predicted an economic growth of 0.5% and unemployment around 50,000. This outlook has now been readjusted in the light of the OECD and IMF estimates for the world’s larger economies.

-Once the recession hits all significant export markets to the extent we are talking about here, then it will also naturally hit Denmark. But the length of the crisis in Denmark will depend on how tight a financial policy and the level of labour market reforms that politicians are prepared to adopt, says Rasmussen.

He stresses that even with 100,000 unemployed in Denmark will still be among the three countries in Europe with the lowest unemployment. And the need for foreign workers is still very much in need.