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Financial News: Denmark Jobless Rate Highest Since December 2012

Denmark Jobless Rate Highest Since December 2012

06/30/2020 - 06:04:00 (RTTNews)

(RTTNews) - Denmark's jobless rate rose to the highest level in seven-and-a-half years in May, figures from Statistics Denmark showed on Tuesday.

The gross unemployment rate rose to a seasonally adjusted 5.6 percent in May from 5.4 percent in April.

The latest unemployment rate was the highest level since December 2012.

The gross unemployment rose to 159,400 in May from 153,100 in the preceding month. The increase was mainly driven by the shutdown of factories in mid-March amid coronavirus pandemic.

The youth jobless rate, which is applicable to the 16 to 24 age group, rose to 2.9 percent in May from 2.8 percent in the previous month.

Based on the LFS data, the jobless rate was 5.0 percent in the 15 to 74 age group. The number of unemployed persons was 150,000 in May.

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