Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Get in touch with us nowLooking at the numbers, the five Nordic countries have managed to achieve this in the employment sector. Employment rates are generally high in Denmark, Norway, Finland, Iceland, and Sweden, and are expected to increase in the years to come. Furthermore, employment rates are high among both men and women, and unemployment rates are expected to remain relatively low in the coming years, despite the impact of COVID-19. On the other hand, youth unemployment rates are above the EU average in both Finland and Sweden, but they are below the EU average in Denmark, Iceland, and Norway. Denmark, Finland, and Sweden are EU members, whereas Norway and Iceland are members of the European Economic Area (EEA).
Earnings and working conditions
Not only the employment figures are high in the five Nordic countries. Annual average earnings are high too, with Norway and Iceland having the highest income levels. Average working hours are at or just below 40 per week, although Icelanders work significantly more than Danes, Norwegians, Swedes, and Fins. Furthermore, fewer people in the Nordic countries work on weekends than in the EU on average. These two aspects show the importance of work-life balance in the Nordic countries. Despite this, the picture is mixed regarding work-related health problems. Whereas more than one fourth of Fins report work-related health issues, only nine percent of Danes do the same.Future labor market and largest employers
In the coming years, the labor market situation in the five Nordic countries is expected to change. For instance, the number of professionals and legislators, senior officials, and managers is expected to increase, whereas the number of clerks and skilled agricultural and fishery workers is expected to fall. Moreover, it is forecast that there will be a high demand for business and administration associate professionals as well as personal care workers in the near future. Except for Finland, it is estimated that people with a high educational level will increase the most in the countries' workforces in the coming years. Today, the security company Securitas AB is the largest employer in the Nordic countries, with nearly 300,000 employees. In terms of profits, the pharmaceutical company Takeda Pharma is the most successful.
