Labour market and education

Labour market and education

Labour market and educational policies are both cornerstones in the Danish economy. The Danish companies need a highly educated labour force to stay competitive in the global economy, which makes the education and the labour market inseparably linked. The importance and complexity of these sectors require data-driven analysis to create and implement the optimal policies.

Cases

Job satisfaction pays off – a study of the value of job satisfaction

Society has a lot to gain from investing in job satisfaction.

 

This is the initial conclusion of a long-term research project for Krifa’s Job Satisfaction Knowledge Centre. The goal of the project is to create new knowledge about the economic importance of job satisfaction to society. The analysis is based on a large-scale survey among 4.500 Danish employees, carried out by Statistics Denmark. The data shows that job satisfaction is highly valued by employees: The average Danish employee attributes a value of DKK 155.000 to an increase in job satisfaction from the average to the upper end of the distribution.

 

Highly relevant for employers, the data also shows a strong association between job satisfaction and labour market movements. Notably, employees are much more likely to remain with their current employer if they are satisfied with their job. Moreover, high job satisfaction is associated with fewer sick days and low stress.

 

In the next phase of the project, we will study the association between job satisfaction and measures of organizational performance.

Analysis of the expansion of the “New right to earlier pension” and the “Senior pension” scheme

There is wide support among the Danish population to allow the most debilitated workers to retire early. However, a proposal for a new early retirement scheme by the government is directed towards workers with many years in the labour market and does not consider whether the individual worker is in fact worn out. If adopted as-is, the government’s new proposal for early retirement would exist alongside the current senior pension scheme that is directed towards the most debilitated individuals. In our analysis, we compare the costs of expanding the eligibility of the current senior pension scheme to a wider age group versus the costs of expanding government’s new proposal for early retirement.

 

We find that an expansion of the existing senior pension scheme would bring 3.800 individuals to early retirement and only cost 26.000 DKK per person in 2025, while expanding the government’s proposal would bring 10.500 to early retirement and cost 98.000 DKK per person in 2025. This large difference is due to the fact that only few individuals who join the senior pension come from employment, whereas the opposite is the case for the government’s early retirement scheme.

 

Gigtforeningen

Make the Sustainable Development Goals to Our Goals

We have transformed the Sustainable Development Goals to Our Goals, so we can track Denmark’s trajectory towards a better future.

 

In 2015, the 17 Sustainable Development Goals were established to ultimately create a better world by 2030. To reach a less poor, more peaceful and sustainable world, concrete action is needed. The 2030-Panel, along with Statistics Denmark, have initiated the project Our Goals to determine the supplementary Danish indicators for the Global Goals to keep Denmark accountable. This is achieved by gathering input on how we measure progress, and ultimately how to reach our goals. Kraka Advisory have aided in this process, and 6.000 inputs have now become 197 Danish goals for a more sustainable society. Furthermore, we have developed relevant indicators and benchmarks for how far Denmark and Danish firms are currently, and thereby what we still need to finally reach our goals. Thus, Danish politicians and firms have the right premises to make informed decisions and take concrete action.

 

Danmarks Statistik og 2030-Panelet

Market analysis for the plumbing and electrician industry

Plumbing and electricity companies have been performing well for many years, and the employment was in 2019 on a record high level.

 

The plumbing and electricity companies are performing well. That is the overall conclusion of the new report Kraka Advisory made for TEKNIQ Arbejdsgiverne. In this report, we analysed the general state of the Danish economy, along with the production and labour market for plumbers and electricians. Since 2013 the industry has seen high growth rates in revenue and employment, with the unemployment rate decreasing to a point that it could hinder continued growth in the sector. The positive trends for revenue and employment continued in 2019, but at a slower pace. The slower pace might be something the industry will have to get used to in coming years, as construction is projected to slow down in the coming years, and as the crisis following the Coronavirus creates an uncertain future for the companies.

 

Tekniq Arbejdsgiverne

 

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