The measures taken to curb the spread of coronavirus Covid-19 will result in the Dutch economy shrinking 3.5 percent this year, ABN Amro calculated on the assumption that the current restrictions will last about two months. Unemployment will be around 4.5 percent by this summer, compared to 2.9 percent in February, according to the bank.
The coronavirus will definitely cause a recession in the Netherlands, according to a report central planning office CPB released on Thursday. The CPB calculated four scenarios depending on how long the measures to curb the spread of Covid-19 will remain in place, and all four scenarios resulted in a recession. In the best case scenario, the Dutch economy will shrink 1.2 percent this year, in the worst case it will shrink 7.7 percent. In three of the four scenarios, the shrink will be greater than in the 2008/2009 financial crisis, CPB said.
People who have a paid job generally feel healthier than people without a job, Statistics Netherlands reported on Monday. 90 percent of employed persons describe their own health as good or excellent, compared to 76 percent of people with no work. On a scale of one to five, working people give their health a score of 3.4 while non-working people score their's 3.0 on average.
In December a total of 9 million residents of the Netherlands had a paying job - the highest number of employed persons in the country to date, Statistics Netherlands reported on Thursday. After a minor increase in the second and third quarter of 2019, unemployment decreased again in the fourth quarter, and the number of active unemployment benefits with it.
The number of unemployed people in the Netherlands increased in the third quarter, compared to the previous quarter, for the first time in 5.5 years, according to Statistics Netherlands. In the third quarter there were 319 thousand unemployed people, 14 thousand more than in the second quarter. The unemployment rate rose from 3.3 percent to 3.4 percent.
Economic growth in the Netherlands will decline to 1.4 percent growth next year, according to the August Estimation by central planning office CPB. The declining growth is due to "bad wind from abroad", the CPB said, NU.nl reports.
The economy in the Amsterdam Metropolitan region is expected to grow by 2.8 percent this year and 2.3 percent in 2020, according to the region's economic exploration. While the expected growth is lower than the 3.4 percent growth the region saw last year, the Amsterdam region is still one of the three fastest growing regions in Europe, together with Prague and Warsaw, NU.nl reports.
Eastern Europe is flourishing, with falling unemployment and rising wages. While this is great news for countries like Romania and Poland, it is a blow to the Dutch business world. Especially for companies that are increasingly dependent on migrant workers, ABN Amro said in a new report on labor migration, RTL Nieuws reports.
A total of 3.3 million new jobs were created in the Netherlands between 2014 and 2017, according to figures Statistics Netherlands released on Wednesday. In Amsterdam, youth unemployment nearly halved over the past our years. Last year 6.2 percent of young people between the ages of 15 to 26 years in Amsterdam were unemployed, compared to 13.3 percent in 2014, the city said in a press statement.
Refugees in the Netherlands are still struggling to find work. Only a quarter of asylum seekers who came to the Netherlands in 2014 now have a job, according to a new report by social-economic council SER. Business incubator Refugees Forward is trying to help by giving refugees the training they need to launch their own successful businesses.
The tension on the Dutch labor market reached a new peak in the first quarter of this year. The number of vacancies increased, while the number of unemployed declined, Statistics Netherlands reports. In the first quarter there were on average 88 vacancies per 100 unemployed, compared to 80 vacancies in the fourth quarter of last year.
The Dutch economy, measured by gross domestic product, grew by 2.7 percent last year. That is somewhat less growth than in 2017, when the highest economic growth since the financial crisis was achieved, Statistics Netherlands reported on Monday.
As in previous years, the economic growth in 2018 was largely due to increased employment. Household consumption contributed most to the economic growth last year. Investments in fixed assets also made a larger contribution. In previous years, foreign trade was the driving force behind the economic growth.
The purchasing power increase that the central planning office CPB calculated for this year remains the same, despite a higher energy bill. 96 percent of all Dutch households will see their purchasing power increase, by an average of 1.6 percent this year and 1.3 percent next year. The increase is mainly due to higher wages, CPB said in a new estimate published on Tuesday, NU.nl reports.
The Dutch economy grew by 2.5 percent last year, compared to 2.9 percent growth in 2017, Statistics Netherlands reported based on initial figures. The economic growth was boosted by higher consumer spending and business investment. The trade balance - the difference between imports and exports - contributed less to the growth than the year before.
In a short New Year's address, Amsterdam mayor Femke Halsema praised the hopeful feeling around the city's future. She said the city wants more people to be able to access Amsterdam's growing prosperity through policy that addresses poverty, disenfranchisement, and crime.
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.
The Dutch economy will continue to grow, but not as strongly as in the past years, according to new estimates by the Netherlands bureau for economic policy analysis CPB. Despite this, the Dutch economy continues to grow faster than the average in the euro zone, ANP reports.
Dutch people often misjudge important facts about the Netherlands. The Dutch population's perception about immigration, unemployment and climate change figures, among others, is far wrong, according to the study Perils of Perception by Ipsos. The research agency interviewed citizens from 37 countries. In none of the countries did the citizens estimate figures correctly, RTL Nieuws reports.
Economic growth in the Netherlands dropped considerably in the third quarter. Compared to the second quarter, the economy grew by only 0.2 percent between start July and end September - the lowest quarterly growth in the past two years, Statistics Netherlands reported on Wednesday.
The Dutch economy will continue growing this year and next year, though a bit slower than expected, central planning office CPB said on Thursday. The CPB expects 2.8 percent growth in 2018 and 2.6 percent in 2019, instead of 2.9 percent and 2.7 percent as the office expected in June, NU.nl reports.
The number of open vacancies in the Netherlands reached record high in the second quarter of this year. At the end of June there were 251 thousand open vacancies, a growth of 16 thousand in the second quarter. With that the previous record from the end of 2007 was broken. Then there were 249 thousand open vacancies in the country, Statistics Netherlands reported on Tuesday.
The Amsterdam Metropolitan Region developed strongly after the financial crisis and will continue to do so in the coming years, according to the Economic Outlook Metropolitan Region Amsterdam 2018 that the city of Amsterdam published on Wednesday. The city attributes the region's success to its "diverse and open economy in which both large and small companies can grow".
Last year the Netherlands' national debt decreased by 18 billion euros, from 434 billion euros to 416 billion euros, according to the central government's annual report that was released on Wednesday. That comes down to 56.7 percent of the Netherlands gross domestic product.
With that the Netherlands closed a year with a national debt that complies with European rules for the first time since the outbreak of the financial crisis. According to European rules, a country's national debt must remain below 60 percent of GDP.
The Dutch economy grew by 3.2 percent last year, and more people in the Netherlands had work than ever before. Despite this, the growth in net disposable income is still lagging behind, Statistics Netherlands reported on Tuesday.
In 2017 net real disposable income - the amount Dutch have left to spend after all premiums and taxes were deducted, corrected for inflation - grew by 1.5 percent. This was the third year in a row that Dutch had more to spend. But the growth is small compared to the 3.2 percent growth in the Netherlands gross domestic product.