As a result of the corona crisis, private companies are currently experiencing large revenue losses. Had it not been for the government wage compensation schemes, business assistance schemes and loan facilities from the Danish banks etc., private companies would have had to lay off far more staff than what we see today, with even greater consequences for Danish society and for the affected families. Fortunately, the private finances of most Danish families can withstand relatively long periods of unemployment. Those are the findings of a new register-based analysis of Danish households by Finance Denmark.
Most Danish household’s finances are resilient to long-term unemployment during the corona crisis
Finance Denmark is a business association for banks, mortgage institutions, asset management, securities trading and investment funds in Denmark. Our members are mortgage institutions, banks, savings banks, cooperative savings banks, Danish branches of foreign banks, asset managers, Danish securities dealers and investment funds.