Dutch unemployment rate declines to 3.4% in April: CBS data

The data reveals that a total of 343,000 people aged 15 to 74 were unemployed during the period, accounting for 3.4 per cent of the labour force. Concurrently, the number of employed individuals rose by an average of 9,000 per month, reaching a total of 9.7 million, indicating that 73.1 per cent of the population in this age group were engaged in paid employment.

Highlighting the resilience of the Dutch labour market, the report showcases a notable decline in long-term unemployment, particularly among individuals aged 45 and over. The unemployment rate for this age group stood at a historic low of 2.1 per cent, equivalent to 87,000 unemployed individuals, marking the lowest number in the past two decades.

Among the younger demographic (15 to 24 years), the unemployment rate was 7.9 per cent in April. Although this age group typically experiences higher levels of unemployment, the figure represents a decrease from the previous year’s low of 6.9 per cent recorded in April.

The report also reveals that the number of people outside the labour force, including retirees and individuals unable to work due to illness or disability, fell slightly by an average of 2,000 per month, totalling 3.2 million in April. These individuals are not considered part of the labour force.

Furthermore, the Employee Insurance Agency (UWV) recorded 156,000 individuals receiving current unemployment (WW) benefits at the end of April, providing insights into the impact of unemployment support measures.

The decline in long-term unemployment is an encouraging sign, as the proportion of long-term unemployed individuals (those seeking work for a year or more) decreased to 18 per cent in Q1 2023, down from 43 per cent at the beginning of 2015. While the share of short-term unemployed surged during the onset of the COVID-19 pandemic in Q2 2020, long-term unemployment has gradually decreased since then.

These statistics indicate positive trends in the Dutch labour market, with improving employment figures and decreasing long-term unemployment. The findings reflect the effectiveness of various measures implemented to support workers and businesses during challenging times, demonstrating the resilience and adaptability of the Dutch economy.

ALCHEMPro News Desk (RKS)