While unemployment in the EU dropped to below 10 percent in October – the lowest since July 2009 – half of all people without a job in Europe are long-term unemployed (unemployed for at least one year).
A new report from the Economic Council of the Labour Movement (see here in Danish) shows that Denmark is leading the way in terms of having the fewest long-term unemployed as well as getting the unemployed back into the workforce.
The report, based on figures from EU stats keeper Eurostat, showed that just over 20 percent of the unemployed in Denmark during the second quarter of 2016 were long-term unemployed – the second lowest figure in the EU after Sweden.
Conversely in Greece the figure was over 70 percent and around 60 percent in Italy, Bulgaria and Slovakia.
Back on the horse
Denmark was also rated the second-best nation in the EU when it came to getting their unemployed back to work. Over 35 percent of Danes who became unemployed in the first quarter of 2016 were back in jobs during the second quarter of 2016. Only Estonia fared better.
Meanwhile, Greece was once again rock bottom on the list with under 10 percent, followed by Romania, Bulgaria, Ireland and Slovakia.
According to AE, other European nations could learn a thing or two from Denmark’s flexible labour market and undertake reforms to make their labour markets more flexible (although a social safety net is required to do so).