Job vacancy growth on Dutch labor market slowing down

The trend of the ever-increasing number of unfilled vacancies in the Netherlands is slowing down after reaching a record level at the start of this year, job site Indeed reported. Indeed says it is the largest job site in the Netherlands. The vacancy level is now even lower than at the end of 2022. This may be due to the economic uncertainty that has made companies more cautious about hiring new staff. However, demand remains high.

According to Indeed, a similar trend is visible in other European countries. Last year, vacancies in the Netherlands increased almost continuously due to the strong economic recovery from the coronavirus crisis. Many companies were struggling with staff shortages and urgently looking for extra employees. But that now seems to be decreasing somewhat, although the number of vacancies is still growing in the retail trade and education.

The number of vacancies is falling in construction, although the level is still considerably higher than before the coronavirus, according to Indeed. “The nitrogen problem is delaying many construction projects, and that is inhibiting the growth of vacancies. There is still much uncertainty about the progress and outcome of this political and public debate, resulting in the question about how much, when, and whether construction can happen at all, and therefore also how many people are needed,” said Stan Snijders of Indeed Benelux.

The vacancy level has also fallen somewhat in the financial sector, Indeed said. “The recent unrest in the financial markets about the banking sector is likely to play a role in the slowdown in growth after two months of vacancy growth at the beginning of the year,” said Snijders.

“The declining vacancy trend is a signal that we are moving towards a broader ratio between vacancies and candidates in the labor market. Employers have struggled for some time with a relatively limited supply of applicants while the demand for personnel is high. A declining vacancy trend promises more air to get the workforce in order,” said Snijders.