COPENHAGEN, Aug 28 (Reuters) - Denmark's seasonally adjusted
unemployment rate was 1.6 percent of the workforce in July,
unchanged from June, the National Statistics Office (DS) said on
Thursday.
Economists polled by Reuters had expected unemployment to stay at 1.6 percent. ****************************************************************
KEY FIGURES July '08 June '08 July '07 Unemployment rate (pct) 1.6 1.6 3.3 Total unemployed (000s) 44.0 45.8* 90.6 All figures seasonally adjusted
* revised from 45.6
KEY POINTS FROM THE OFFICIAL STATEMENT
* Since January 2008, unemployment has fallen by 15,100 people, or 26 percent.
* Unemployment has been in a sharp downward trend since December 2003, when it was at 170,800 people, or 6.2 percent of the workforce.
COMMENTARY
HSH NORDBANK SENIOR ANALYST ERIK BENNIKE
'Unemployment continued to fall in July by 1,600 people, but as we had expected it was not enough to change the percentage compared to the workforce.'
'It's important to note that unemployment typically is a delayed indicator of changes in the economic cycle. Typically there is some time after a slowdown takes hold until we see unemployment rates start to rise.'
'Against the background of the disappointing economic growth figures in the first quarter and a number of economic indicators there is definitely reason to believe that we will see a shift in the labour market soon.'
For further details in Danish, Reuters 3000 Xtra users can click on http://www.dst.dk/Statistik/Nyt/Tidsopdelt.aspx
(Reporting by Kim McLaughlin; Editing by Victoria Main) Keywords: DENMARK UNEMPLOYMENT/ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Economists polled by Reuters had expected unemployment to stay at 1.6 percent. ****************************************************************
KEY FIGURES July '08 June '08 July '07 Unemployment rate (pct) 1.6 1.6 3.3 Total unemployed (000s) 44.0 45.8* 90.6 All figures seasonally adjusted
* revised from 45.6
KEY POINTS FROM THE OFFICIAL STATEMENT
* Since January 2008, unemployment has fallen by 15,100 people, or 26 percent.
* Unemployment has been in a sharp downward trend since December 2003, when it was at 170,800 people, or 6.2 percent of the workforce.
COMMENTARY
HSH NORDBANK SENIOR ANALYST ERIK BENNIKE
'Unemployment continued to fall in July by 1,600 people, but as we had expected it was not enough to change the percentage compared to the workforce.'
'It's important to note that unemployment typically is a delayed indicator of changes in the economic cycle. Typically there is some time after a slowdown takes hold until we see unemployment rates start to rise.'
'Against the background of the disappointing economic growth figures in the first quarter and a number of economic indicators there is definitely reason to believe that we will see a shift in the labour market soon.'
For further details in Danish, Reuters 3000 Xtra users can click on http://www.dst.dk/Statistik/Nyt/Tidsopdelt.aspx
(Reporting by Kim McLaughlin; Editing by Victoria Main) Keywords: DENMARK UNEMPLOYMENT/ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
