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The Wise Men, Denmark’s independent economic watchdogs, are suggesting that the national economy will contract by almost three percent and that jobless figures may reach as high as 200,000 in the coming period – one of the worst forecasts yet seen and somewhat worse than the government’s own forecast produced yesterday.
At the same time, the Wise Men say, Danes will have to get used to the idea of much lower wage increases – from some four percent on average to around two percent. Given price rises, there will be almost no real wage increase at all in coming years.
