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.
In March 3.9 percent of the Netherlands' labor force were unemployed, compared to 4.1 percent in February. That is still above the unemployment level before the financial crisis in 2008, but the percentage halved since early in 2014, when unemployment peaked at 7.8 percent, Statistics Netherlands reported on Thursday.
Last month more than 8.7 million people between the ages of 15 and 75 years had paid work. That number increased by an average of 20 thousand per month over the past three months.
Only 11 percent of the 20 thousand asylum seekers who got refugee status in the Netherlands in 2014, had paid work in the summer of last year. A year and a half after obtaining refugee status, on 4 percent had paid work, according to figures Statistics Netherlands released on Tuesday.
Half of the refugees that came to the Netherlands in 2014 are from Syria. 10 percent of this group had paid work last summer - Statistics Netherlands' latest reference date. 6 percent of the 4 thousand Eritrean refugees had work. Most of the refugees in these two groups are still on welfare.
Unemployment in the Netherlands continues to fall. In February a total of 367 thousand people were unemployed, 4.1 percent of the working population. In January it was 4.2 percent. Over the past three months, the number of unemployed people in the Netherlands fell by 10 thousand per month, Statistics Netherlands reported on Thursday.
The Dutch economy will continue to grow strongly this year and next year, according to expectations announced by the Netherlands office for economic policy analysis CPB on Tuesday. Next year unemployment will drop to its lowest level since 2001, NU.nl reports.
In the fourth quarter of 2017 the number of jobs in the Netherlands increased by 57 thousand, the number of vacancies rose by 14 thousand and the number of unemployed people in the country decreased by 29 thousand. These are the strongest labor figures the Netherlands has seen since the financial crisis, Statistics Netherlands reported on Wednesday based on the latest quarterly figures on the labor market.
The number of new unemployment benefits to young people up to the age of 27 years decreased by almost a quarter in 2017, benefits agency UWV announced. Last year a total of 61,500 young people received new unemployment benefits, compared to 80 thousand the year before, NU.nl reports.
A symposium held in Amersfoort last week showcased technological solutions that can help people with occupational disabilities find and keep a job. The symposium included technologies ranging from an augmented reality app that can show people with mild intellectual disabilities exactly how to disassemble and repair a ship's propellor shaft, for example, to an exoskeleton that enables users with physical disabilities to move their limbs and increase their strength, NRC reports.
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.
Dutch union CNV is calling on Dutch employers to stop employing migrant workers. CNV wants the shortage of professionals to be filled with people now standing on the sidelines of the Dutch labor market, union president Maurice Limmen said in an interview with the Telegraaf.
Unemployment in the Netherlands continues to steadily decline. In November 4.4 percent of the labor force was unemployed, compared to 4.5 percent in October. That amounts to 397 thousand unemployed people, dropping below the 400 thousand mark for the first time since August 2009, Statistics Netherlands reported on Thursday.
The Dutch economy will grow by 3.1 percent next year, according to the Netherlands central planning office for economic policy CPB. "Such growth percentages have not occurred since 2007", CPB said, NU.nl reports. "Because of the persistently high growth, there will be a boom in the coming year."
The Dutch economy continues to grow strongly, with growth of over 3 percent expected for this year and next year, according to Dutch central bank DNB's latest forecast, RTL Nieuws reports.
The economic growth will reach a peak of 3.3 percent this year, the strongest growth in 10 years, according to DNB. Next year the bank expects the economy to grow by 3.1 percent, and 2.3 percent growth is expected in 2019. "We are moving from economic recovery to economic expansion", DNB director Job Swank said, according to the broadcaster.
In September 4.9 percent of the Dutch labor force were unemployed, according to figures from Statistics Netherlands and benefits agency UWV. This figure is the same as in August of this year, but lower than the 5.7 percent unemployment rate of September 2016.
The unemployment rate only includes unemployed people who want work and are available to start immediately. It does not include people who want to work, but aren't immediately available, or people with part time work who want to work more.
On Tuesday King Willem-Alexander opened the Netherlands' parliamentary year with his traditional Budget Day speech. He talked about the devastation Hurricane Irma left of the Caribbean islands that form part of the Dutch Kingdom, terrorism around the world, the prosecution of those responsible for the MH17 disaster, and making sure that everyone in the Netherlands benefits from the improving economy, among other things.
Today is the last Budget Day for the departing Rutte II cabinet. In tradition and ceremony, the day is expected to look like every other Budget Day, with politicians decked out in fancy hats, the Royals arriving at the Ridderzaal in The Hague in a carriage and the famous balcony scene after the throne speech. But given the current VVD and PvdA government's departing status, no big news is expected in the budget. Big changes are left up to the new government.
The Dutch economy continues to grow steadily and its growth is expected to reach 3.3 percent this year, according to planning office CPB's estimate in its Macro Economic Exploration, which was published on Wednesday. If this estimate holds true, this will be the first time the Dutch economy grows by more than 3 percent since the outbreak of the economic crisis in 2007. In 2018 the gross domestic product is expected to grow by 2.5 percent, NU.nl reports.
The unemployment rate among people with a non-Western background in the Netherlands decreased in 2016, according to Statistics Netherlands. Last year unemployment in this group was 13.2 percent, compared to 16.5 percent in 2014.
Statistics Netherlands also noted that unemployment is higher among the second generation of non-Western immigrants than the first generation. The unemployment rate for second generation immigrants, who were born in the Netherlands, was 14.3 percent last year, compared to 12.5 percent for first generation immigrants.
There is a real chance that bankrupt fashion chain Witteveen may be saved. Other retail chains showed interest in a full or partial acquisition of the struggling company, the Telegraaf reports based on sources around bankruptcy curator Rinke Dulack of Utrecht law firm Van Benthem & Keulen.