Recent data from Statistics Netherlands (CBS) reveals a complex picture of the Dutch labor market and economy at the start of 2024. While household consumption grew and permanent employment contracts rose, the economy faced a slight contraction and a minor uptick in unemployment.
In the first quarter of 2024, the Dutch economy contracted by 0,1% compared to the previous quarter (while the economy of the EU grew by 0,3 percent in Q1 2024). However, this contraction was partially offset by a 0,4% increase in household consumption in March, indicating continued consumer confidence.
The labour market also showed mixed signals. Unemployment saw a slight increase in April, reaching 3,7% of the labour force. Yet, the number of workers on permanent contracts increased, signaling a preference for job security among both employers and employees. The number of on-call and occasional workers has increased over the past two years, and the number of temporary workers has now fallen for two consecutive years.
The number of vacancies in Q1 2024 remained relatively similar to Q4 2023, reaching 410.800. At the moment, for every 100 people without work, there are currently 110 open vacancies.
For more insights into the current state of the Dutch labour market, check out the stats below:
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