Sustained job losses

29/03/2013 09:30

The number of jobs of employees was 89 thousand (1.1 percent) lower in the fourth quarter of 2012 than twelve months previously. In the first three quarters of 2012, too, the number of jobs was lower than one year previously. The number of jobs lost grew in the course of the year.

With a reduction of 21 thousand jobs, the construction sector was hit hardest, while in the business services sector, 20 thousand jobs were lost. Employment was also considerably down in the sectors public administration, manufacturing industry, financial services and education. With an increase of 4 thousand jobs, employment improved only in the health services sector.

Growth rate of jobs and economic growth

Growth rate of jobs and economic growth

Altogether, there were over 7.8 million employee jobs in the Netherlands. These include full-time as well as part-time jobs. Converted to full-time equivalents, there were 5.8 million jobs in the fourth quarter, 1.3 percent down from the fourth quarter of 2011.

If seasonal effects are taken into account, the number of jobs in the fourth quarter of 2012 was 17 thousand lower than in the third quarter.

In the fourth quarter, wages per working year were 1.0 percent higher than one year previously. For well over two years now, the wage increase has almost continuously been too small to compensate for inflation.

The figures in this update are adjusted to the second estimate on the number of jobs of employees in the fourth quarter of 2012. They have been revised from the first estimate published on 14 February 2013. The figures on the number of jobs of employees in the first, second and third quarter of 2012 have also been revised.

Jobs of employees, seasonally adjusted

Jobs of employees, seasonally adjusted

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.