More than one-third of Danish companies have run out of people to recruit as the country is close to achieving full employment.
Denmark is not part of the Eurozone and has been able to quickly bounce back from the European debt crisis that has plagued business since 2009. The rebound has been so good, that nearly every person who is able and willing to work has a job.
Companies that require skilled workers are forced to scale back production, turn down contracts and halt expansion plans because they can’t find workers to fill the demand.
“We need more skilled workers, but we can’t get them,” Peter Enevoldsen, who runs a tractor company in Denmark, told The New York Times. “If the labor shortage continues, it could sharply impact our growth, and growth in general.”
Employment is expected to rise by 95,000 persons by the end of 2018. The government recently warned the country that it is approaching a situation of capacity constraints.
“The government’s forecast for the Danish economy shows that we are heading towards a new era,” said Simon Emil Ammitzboll, the Danish Minister for Economic Affairs and the Interior said in December. “Things are moving forward, but it requires that we adjust.”
Denmark, a country of about six million people, recently announced the creation of a “Silicon Valley ambassador” to “establish and prioritize comprehensive relations” between the country and the world’s leading tech companies. The labor shortage is particularly problematic when it comes to finding I.T. specialists, computer scientists, engineers and mechanics.
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