Job growth slows down

23/12/2008 09:30

The number of jobs of employees was 108 thousand higher in the third quarter of 2008 than in the same quarter one year previously; this is a 1.4 percent increase. Job growth was, however, less vigorous in the third quarter than in preceding quarters, when it hovered between 2 and 3 percent.

The number of jobs in the business services sector and in trade grew by most compared to the third quarter of 2007. These sectors provide most jobs for employees. In both sectors, growth was substantially lower than in preceding quarters, however. In the business services sector the growth of the number of temp jobs decreased.

Employment is obviously subject to seasonal variation. After correction for seasonal effects, job growth virtually came to a halt. This is the first time this has happened since the end of 2004.

The total number of jobs of employees (full-time and part-time) in the Netherlands amounted to 8 million, corresponding to more than 6 million full-time jobs.

The wage costs per fte were 4.4 percent higher in the third quarter of 2008 than one year previously. This is more than the 3.6 percent increase for collective (CAO) wages. The difference is caused by higher employer-paid premiums for health insurance, unemployment and disability. This is the highest rise in wage costs for more than 4 years.

Growth rate jobs and economic growth

Growth rate jobs and economic growth