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Denmark was hit harder by the global financial crisis than its neighbouring countries and the OECD area, but is now slowly recovering. In the first quarter of 2016, the employment rate was still 4.8 percentage points lower than before the GFC with only minor improvement since 2013.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2016.
Denmark’s economic prospects are improving, but further reforms are needed to maintain the country’s high living standards and ensure the well-being of all citizens, according to a new report from the OECD.
The 2015 edition introduces more detailed analysis of participation in early childhood and tertiary levels of education. The report also examines first generation tertiary-educated adults’ educational and social mobility, labour market outcomes for recent graduates, and participation in employer-sponsored formal and/or non-formal education.
Encouraging more people to continue to work later in life would help Denmark meet the challenges of its rapidly ageing population. The ratio of the population aged 65 and over to the working-age population is projected to increase from 30% in 2012 to 43% in 2050, according to a new OECD report.
An open, liberal economy combined with redistribution and social welfare: The Danish model has largely weathered the storm of the financial and euro crises. Yet, when looking at education and integration, not all is rosy in the Kingdom of Denmark.
Specific country notes have been prepared using data from the database OECD Health Statistics 2015, July 2015 version. The notes are available in PDF format.
Surveys suggest that Denmark ranks close to or slightly above the OECD average in terms of student and adult skills, even though Denmark spends more than many OECD countries on education, labour market policies and adult learning. Sluggish productivity growth over the past two decades raises the question of how to develop better skills and use them more efficiently to achieve stronger and more inclusive growth.
Danish productivity has grown only weakly over the past two decades, both historically and in relation to other countries, despite sound policies and institutions. Denmark needs to continue its efforts to reap the benefits of globalisation, which would contribute to invigorating productivity growth.
The average worker in Denmark faced a tax burden on labour income (tax wedge) of 38.2% in 2013 compared with the OECD average of 35.9%. Denmark was ranked 17 of the 34 OECD member countries in this respect.