financial crisis

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Netherlands unemployment drops below pre-crisis levels

Dec 20 '18 14:30

The number of unemployed people in the Netherlands decreased to 326 thousand in November. That means that 3.5 percent of the Dutch labor force are unemployed, slightly lower than before the outbreak of the financial crisis at the end of 2008, Statistics Netherlands reported on Thursday.

Statistics Netherlands considers someone to be unemployed if he or she does not have paid work, is actively looking for work, and is available to start immediately. Over the past three months the number of unemployed people declined by an average of 9 thousand per month.

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Few construction workers returned to sector after crisis

Aug 23 '18 09:26

Of the workers who left the construction sector after the economic crisis in 2008, only 15 percent returned to the sector before 2017, Statistics Netherlands reported on Thursday. Many found work in another industry. Another part retired or passed away in the meantime.

Staff shortages increased significantly in construction over the past years. In addition to material shortage, the need for construction workers is seen as the main obstacle to growth in the sector, according to the stats office.

Bitcoin cryptocurrency and euros

Stabilizing cryptocurrencies could cause new financial crisis: Dutch economic office

May 30 '18 12:10

Business Technology

By now everyone is aware of the risks involved in investing in cryptocurrencies with their wildly fluctuating prices. But the real risks may only appear should cryptocurrencies' prices start stabilizing, according to the Netherlands office for economic policy analysis CPB. In the worst case scenario, this could lead to another global financial crisis, the CPB wrote in its annual report on the risks for the financial markets, RTL Z reports.

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ING board still defends CEO's massive pay raise

Mar 29 '18 09:25

Business Politics

Jeroen van der Veer, president of ING's board of commissioners, again defended the bank's now scrapped plan to increase the salary of CEO Ralph Hamers from 2 million to 3 million euros per year. The bank has to increase the executives' salaries if it wants to remain an international player, Van der Veer said in the Tweede Kamer on Wednesday, AD reports.

Euros

Global debt levels again dangerously high, Dutch experts warn

Mar 14 '18 10:00

The debts of investors, home buyers, consumers, companies, and governments are rising to dangerously high levels world wide, Nout Wellink and Hans Hoogevorst warn in the Telegraaf.

Wellink and Hoogevorst were in charge of Dutch central bank DNB and Dutch authority on financial markets AFM respectively during the financial crisis that started in 2008.

According to the two financial experts, there is insufficient clarity on where the risks are, which means that markets could underestimate the rising deficits. They call te banking sector a particular cause of concern.

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Unemployment in NL still higher than before financial crisis

Jan 16 '18 11:20

Despite steadily decreasing since 2014, unemployment in the Netherlands is still higher than it was before the financial crisis hit in 2008, Statistics Netherlands reported on Tuesday. Unemployment among men between the ages of 25 and 45 years is currently more than three times as high as it was at the start of the crisis.

Some 100,000 fmr Dutch students can't pay their study loans

Apr 10 '17 11:45

The number of former Dutch students having problems paying the monthly repayment on their student loans is approaching 100 thousand, education agency DUO confirmed to NU.nl. Their income is too low for a mandatory monthly installment to be imposed on them, according to the news site.

In 2009 around 30 thousand former students could not afford to pay the monthly installment on their study loans. In 2015 that increased to around 90 thousand and last year the number was close to 100 thousand. Final figures are not available yet.

ING Bank

ING bank concerned about euro's future

Feb 3 '17 11:15

Business Politics

While the worst of the credit crisis is now definitely a thing of the past, the future of the euro remains a major concern, the directors of ING Bank said while presenting the bank's annual figures on Thursday, ANP reports.

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Dutch bankruptcies down to pre-crisis levels

Jan 16 '17 10:11

The number of bankruptcies in the Netherlands last year fell to its lowest level since 2008, Statistics Netherlands announced on Monday. In 2016 a total of 4,396 companies were declared bankrupt - nearly a fifth less than in 2015 and almost 4 thousand fewer than when bankruptcies peaked in 2013.

Last month 328 companies and institutions were declared bankrupt, 88 fewer than in November 2016.

Dutch economy recovering to pre-crisis levels

Dec 13 '16 08:01

Business Top Stories

The Dutch economy and government finances are both in a much better state than expected a few months ago, according to Statistics Netherlands' December estimate. The Rutte II cabinet is expected to end its term without a deficit and the economy is reaching the level it was before the outbreak of the financial crisis in 2008, ANP reports..

The Statistics Netherlands accountants expect economic growth of 2.1 percent in 2017. That is the same level as this year, following a 2 percent growth last year. Three months ago 1.7 percent was expected for 2016 and 2017.

Looking for a job

Unemployment falls across all Netherlands provinces

Nov 25 '16 10:06

In the third quarter unemployment was down in all provinces in the Netherlands, compared to the same quarter three years ago, Statistics Netherlands announced on Friday. On the same day Amsterdam announced that municipal program Participate Work found work for 3 thousand long-term unemployed people so far this year.

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Consumer confidence climbs to 9 year high

Oct 20 '16 08:28

The mood among Dutch consumers improved again in October, climbing to the highest level of consumer confidence in nine years, according to Statistics Netherlands. Consumer confidences increased by four points to 12 in October.

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Effects of govt. budget cuts unclear: report

Oct 3 '16 16:00

The exact impact, income and consequences of the budget cuts the Dutch government implemented between 2011 and 2016 are unclear, the General Court of Audit reported on Monday

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Sales increase shows "rosy" future for Dutch flower stores

Sep 27 '16 12:50

The future looks "rosy" for florists in the Netherlands, according to florist association VBW half year figures. During the first half of this year, flower sales increased by 5.4 percent compared to the same period last year

Dutch King: "Netherlands is a strong country in an unstable world"

Sep 20 '16 13:50

While the Netherlands is facing many challenges at this time, the financial crisis is behind us and the country is doing better, King Willem-Alexander said in his fourth Budget Day speech from the throne in the Ridderzaal on Tuesday. "Unrest and unease are hallmarks of our time. We must seize the opportunities that the future offers us", the King said, according to the Volkskrant's live blog on Budget Day 2016.

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Dutch mortgage market approaches pre-crisis levels

Sep 12 '16 15:30

The mortgage market in the Netherlands is recovering to pre-financial crisis levels. In the second quarter of this year, the mortgage market reached the highest level since the outbreak of the crisis in 2008, according to figures from IG & H Consulting

Looking for a job

Sharp drop in unemployment among young workers

Aug 17 '16 10:45

There was a sharp drop in unemployment among 25- to 30-year-olds over the past two years, according to figures Statistics Netherlands released on Wednesday. In this age group unemployment fell from 7.3 percent in the second quarter of 2014 to 5 percent in the last quarter of 2015. Though the unemployment rate is still highest among 25- to 45-year-olds.

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Netherlands' country estate sales slowly recover

Aug 3 '16 13:30

The sales of country estates in the Netherlands are slowly picking up after the financial crisis. Since last year, more estates are changing ownership and prices are rising again, according to figures from realtors association NVM

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Amsterdam home prices reach record high as market recovery continues

Jul 21 '16 10:31

Existing home prices in Amsterdam continue to skyrocket as the housing market in the Netherlands recovers. In the second quarter of this year, existing home prices in the Dutch capital were almost 15 percent higher than the same time last year and about 7 percent higher than when the housing market reached its peak in 2008, according to figures released by Statistics Netherlands on Thursday.

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Young Dutch consumers growing in optimism after economic crisis

Jul 20 '16 10:55

Young consumers in the Netherlands are growing more and more positive about the state of the Dutch economy after the financial crisis in 2008, according to Statistics Netherlands. Elderly consumers, on the other hand, are growing more pessimistic.

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Amsterdam to succeed London in Brexit: New York Times

Jul 1 '16 14:30

Amsterdam is most likely to take over from London as the financial capital of Europe in the wake of the Brexit, according to a ranking compiled by the New York Times. According to the newspaper, the Dutch capital's only flaw is the Netherlands' strict rules around bonuses.

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SNS Bank to remain in Dutch state hands until next government

Jun 28 '16 10:36

SNS Bank will remain in Dutch government hands for a while longer. Finance Minister Jeroen Dijsselbloem decided to postpone a decision on the bank's IPO until after the elections next year. This means the future of the bank will be in the next government's hands

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Netherlands' national debt down €10 billion

May 18 '16 13:45

In 2015 the Netherlands' national debt decreased for the first time since 2006. Last year the national debt was 10 billion euros lower than in 2014. And the country's budget deficit is at its lowest rate since 2009, according to the accountability documents sent to parliament on Wednesday

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Entrepreneurs upbeat as Dutch small businesses recover from crisis

May 17 '16 12:35

The mood among Dutch entrepreneurs was upbeat and positive at the start of the second season. Businesses in the Netherlands continue to recover from the financial crisis, including small- and medium sized enterprises.

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