Unemployment rate stable

21/07/2005 09:30

In the second quarter of 2005 unemployment in the Netherlands averaged 494 thousand, 3 thousand down on the period March-May 2005. The most recent figures released by Statistics Netherlands indicate  that correction for seasonal effects did not affect the number of unemployed in the second quarter of 2005.

Unemployment in the second quarter of 2005 was 8 thousand higher than in last year’s second quarter. In the past three months 6.7 percent of the labour force were unemployed. Twelve months ago the unemployment rate was 6.6 percent. 

Favourable trend

In the second quarter of this year unemployment fell slightly after correction for seasonal effects. The underlying trend was also positive. Towards the end of 2004 some 5 thousand persons joined the ranks of the unemployed each month. Since then the number of unemployed has remained fairly stable and the downward trend came to a halt. Currently, the trend indicates that the level of unemployment is stable. The Dutch youth unemployment rate is no longer rising. A slight increase is recorded among 45-64 year olds. 

Unemployment rate revised slightly downwards

The figures in this press release are based on Labour accounts as part of National accounts. Once every five years National accounts are revised and the latest revision was recently implemented. Figures on the unemployed labour force have not been subject to revision but the the employed labour force was adjusted downwards in the period 2001-2005. As a result, the unemployment rate in this period was often about 0.1 percentage point higher than stated in prior publications.

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