Economy and the labour market

Is a troubled time causing you to worry? Here's what you can do

In a time of uncertainty and change, it can be hard to stay optimistic. Fortunately, IDA's Chief Economist can put your mind at ease. But if you're still worried, here's what IDA's work-life consultant has to say about how to deal with the uncertainty.

According to Anders Overvad, chief economist at IDA, the Danish economy and labour market looked promising before Trump's announcements about tariffs: He expected a continued increase in employment followed by a nice increase in real wages for IDA members.

And after Trumps tariffs? Anders Overvad says there's still grounds for optimism: 'It is still my expectation that there will be progress for Danish employment and the economy.'

It's not just because Trump has paused the retaliatory tariffs that we should remain calm, but because the economic situation is determined by much more than just trade. And if we look to the EU, the fiscal policy measures are in motion, which will counteract some of the economic pressure.

In addition, Anders Overvad, based on a new analysis of supply and demand for labour in Europe, can report that IDA's member groups are among the professions where the most jobs are expected to be created.

He can therefore reassure members that not despite, but actually because of, an uncertain and changing world, there is an increasing need for members' skills to solve society's major challenges.

See IDA's salary forecast for 2025

Take your concern seriously

Although the chief economist remains reassuring, Morten Esmann, working life consultant at IDA, understands well if trade wars, falling stock prices, higher interest rates, uncertain supply chains and poorer export opportunities are generating an abundance of uncertainty and concern.

Because despite the fact that the economy is robust and will probably cope, changes can occur in other areas:

Will this affect my job? Will I have to wave goodbye to the salary increase I was hoping for? Will my career opportunities be limited? And will the company have to come up with a new strategy where there is no role for me?

Morten Esmann emphasises that if you are sometimes a little disillusioned about the future, you are not alone. But it is possible to deal with these concerns and create a more positive approach to your daily work. To do so, you should be taking your concerns seriously and facing them, for example by taking these three steps:

  • First of all, it would be a good idea to put into words what is worrying you. It is much easier to deal with it if it is concrete.
  • Next, you can make a realistic assessment of how likely it is that your fear is justified. How big is the risk that it will actually happen?
  • As a third step, you can consider what you can do to prevent what you fear from becoming a reality. Are there small or large precautions you can take, alone or with others? Similarly, you can think about how you will act or think if it does happen.
  • And if what you fear is completely beyond your own control, it's fine to put it behind you and focus on what you can influence.

6 suggestions for acting on your concern

Although it may seem easier to just close your eyes and hope for the best because the future is so unpredictable, Morten Esmann doesn't recommend doing so:

'I like to think that even if you can't influence whether something happens, you can certainly influence how you act on it. And maybe a little action is better than none.'

Here are some suggestions for things you can do:

  • Focus on the positive: It's easy to get overwhelmed by negative news and worries, but it helps to focus on the positive aspects of your work. For example, promise yourself that every day you will record the things you enjoy about your job. This could be anything from exciting tasks, great colleagues or the menu in the canteen.
  • Accelerate your own development: If you are worried about the security of your job, you can strengthen your position by investing in your own development. Learning new skills will make you more attractive in the job market and can give you a sense of progress and control.
  • Expand your network: By developing yourself through courses, conferences or workshops, you also expand your social relationships. And this is one of the most important things you can do if you are worried about the future. Overall, a good network of colleagues, friends and family can be your strongest tool for getting through uncertain changes.
  • Life is more than work: A good work-life balance is essential for job satisfaction. Make sure you have time to relax, get some exercise, prioritise your sleep, and spend time with others. In an unpredictable world, family and friends are some of the best tools to derail negative thoughts.
  • Find meaning in small things: Uncertain futures, driven by difficult-to-understand decisions made far beyond your control, can seem meaningless. But that doesn’t mean your work has lost its meaning altogether. In fact, one of the greatest sources of job satisfaction is finding meaning in your work. Think about how your work contributes to something bigger. Think about how it positively impacts others. Because it always does. Finding meaning, even in small things, can give you a sense of purpose and joy in what you do.
  • Seek help: Despite your efforts to maintain your well-being, you may feel overwhelmed by uncertainty and perhaps stress. In that case, don't hesitate to seek help. A coach or advisor – for example, at IDA – can help you find strategies to maintain job satisfaction.

'There's a saying that the only constant is change. It is inevitable, especially in a world that is constantly evolving,' concludes Morten Esmann, adding: 'If you – without neglecting your concerns – are open to the new opportunities that change may bring, you increase your chances of coming out stronger on the other side.'