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Senior employees have lowest unemployment levels

A new OECD report criticises the fact that the oldest employees in Denmark are unemployed for longer after being made redundant than their younger colleagues. The Confederation of Danish Industry points out that unemployment is low among employees over 50 and that this age group is less afraid of being made redundant. 
The oldest employees in Denmark have seen the greatest rise in employment over the past three years.

Publiceret: 22.12.2016
Af Karen Witt Olsen mail

On Thursday last week, the OECD published its Back to Work: Denmark - Improving the Re-employment Prospects of Displaced Workers report which looks at the Danish job market after the financial crisis.

The report concludes that it takes longer for employees aged 55-64 to find a new job after being made redundant than it does for their younger colleagues.

But perhaps this is their own choice.

Steen Nielsen, director at the Confederation of Danish Industry, points out that unemployment among the oldest employees is down to 3.5% whereas it is just over 4% on average.

“Employees aged 50 and over have the lowest level of unemployment in Denmark. The oldest employees are mainly responsible for the addition of almost 100,000 people to the job market over the past three years," he says.

Not afraid of being made redundant

Steen Nielsen also mentions the Working Environment and Health in Denmark 2012-2020 survey which has looked at how worried employees of different ages are of being made redundant.

“The 55-64-year-olds are the least worried about being made redundant – far less worried than the average employee. Because of their high level of employment, I am tempted to conclude that maybe the oldest employees in the job market take more time to consider their situation and find a new job than their younger colleagues do,” says Steen Nielsen.

See also: Denmark's senior generation among the healthiest in Europe 

Recruitment is a challenge

The OECD report is part of a major study of job market dynamics which, in addition to Denmark, looks at Australia, Canada, Finland, Japan, Korea, New Zealand, Sweden and the United States.

“The figures contained in the report were mainly gathered in 2000-2012 and therefore do not provide a true picture of the situation in the Danish job market in 2016,” says Steen Nielsen.

“Denmark is now five years down the line. The financial crisis is behind us and we are currently facing a completely different economic environment,” he says.

Steen Nielsen also points out that businesses in Denmark are increasingly experiencing problems in recruiting new employees.

“Employment is rising and unemployment is low. We have a strong and flexible job market where the biggest challenge for businesses right now is to find the employees they need with the right skills,” he says.

See also: Businesses searching in vain for staff

I am tempted to conclude that maybe the oldest employees in the job market take more time to consider their situation and find a new job than their younger colleagues do.
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PUBLISHED: 12/22/2016 LAST MODIFIED: 12/23/2016