Unemployment in the Netherlands rises for the 5th month in a row
Unemployment in the Netherlands rose for the fifth month in a row in September 2023, according to new figures from Statistics Netherlands (CBS). Unemployment is rising among young people especially.
371.000 people out of work in September 2023
Each month in July, August and September 2023, an average of 3.000 people lost their jobs, according to a CBS press release. As of September, 371.000 people aged between 15 and 74 were out of work, amounting to 3,7 percent of the working population.
CBS said that the development of the unemployment rate was consistent with the deteriorating economic situation in the Netherlands. With a recession looming, consumer spending is declining, and bankruptcies are on the up, NOS reports.
The Netherlands is also in the curious position of witnessing both rising unemployment and an increase in the number of unfilled vacancies. According to Peter Hein van Mulligen, chief economist at Statistics Netherlands, this shortage of workers is part of the reason why the economy is shrinking, “because companies have too few employees”. But the issue isn’t simply a lack of workers; it’s a lack of skilled workers. “Skilled professionals are still not available for the taking,” he told NOS.
Unemployment rising among young people in the Netherlands
Unemployment is rising especially among young people aged between 15 and 25, according to CBS. In June, 8,3 percent of people in this age group were unemployed. In September this increased to 8,8 percent. Van Mulligen explained that this age group is typically employed in the catering industry, and therefore has been disproportionately affected by its poor performance.
The number of people receiving unemployment benefits has increased since last year. At the end of September 2023, the UWV provided 155.100 unemployment benefits, 1.300 fewer than in August 2023, but 3.100 more than in September 2022.