Marginal slowdown job growth
The number of jobs of employees was 172 thousand higher in the first quarter of 2008 than in the same period one year previously. Employment has risen continuously since early 2005. Job growth increased by 2.2 percent in the first quarter, but subsequently the growth rate has slowed down marginally.
The number of jobs of employees shows a distinct seasonal variation. After correction for seasonal effects, the number of jobs in the first quarter rose 0.5 percent relative to the fourth quarter of 2007.
In the first quarter, the number of jobs of employees in the Netherlands amounted to 7.9 million. This number includes both part-time and full-time jobs. In terms of full-time equivalents, the number of jobs of employees was nearly 6 million in the first quarter.
In most sectors, employment was higher than one year previously. Proportionally, the number of jobs grew most rapidly in business services, even though growth in this sector slackened. A smaller increase in the number of temp jobs accounted for the slowdown. In manufacturing industry, construction and government services, the number of employees hardly changed.
Annual wage costs were 3.3 percent higher in the first quarter of this year than twelve months previously. This is in the same order of magnitude as the increase in 2007. Wage costs increased most in manufacturing industry, least in the sector financial services.
Growth rate jobs and economic growth