Labor market tightness eased slightly last quarter

Labor market tightness in the Netherlands decreased slightly in the third quarter of this year, according to Statistics Netherlands (CBS). The change is attributed to a drop in job vacancies and a rise in unemployment.

From July to September, there were 106 job openings per 100 unemployed people, down from 108 in the previous quarter. The labor market remains tight, CBS noted, though less so than before. By late September, there were 397,000 open vacancies, largely concentrated in trade, healthcare, and business services, which together accounted for half of all open positions. Trade saw a noticeable increase in job openings after nine quarters of decline, while healthcare and business services saw a slight decrease.

Unemployment rose slightly, with CBS reporting 374,000 unemployed in the third quarter, equating to 3.7 percent of the workforce, up from 3.6 percent in the previous quarter. CBS defines an unemployed person as someone without paid work who has recently sought a job and is available for work in the short term.

Youth unemployment also rose, with the rate for those under 25 increasing from 8.6 percent to 8.8 percent, while the rate for older groups remained stable. CBS noted that the drop in the employed population correlated with an increase in the non-working population, meaning people who are not looking for work or are not immediately available.