Unemployment rate in Netherlands holds steady at 3.6% in August 2023

The Employee Insurance Agency (UWV) issued 156.4 thousand unemployment (WW) benefits in August, marking a 2.9 per cent increase from July. Year-on-year, the figure has risen by 3.1 per cent. Except for agriculture, greenery and fisheries, all sectors saw an uptick in WW benefits.

Although the overall unemployment rate for those aged 15 to 74 remained stable, there were variations among age groups. Youth unemployment increased from 7.5 per cent in December of the previous year to 8.7 per cent in August 2023. This contrasted with the 25 to 44 age group, where the unemployment rate remained virtually unchanged, and the 45 to 74 age group, where it dropped from 2.5 to 2.1 per cent, CBS said in a media release.

A net increase of 11,000 unemployed persons was recorded over the past three months. This was due to the dynamic flows between the employed, unemployed, and those not in the labour force. While the number of retirees and people unable to work due to illness or disability remained high, they are not considered part of the labour force.

ALCHEMPro News Desk (KD)