[October 2011] Unemployment & Pessimism

Seasonally adjusted unemployment increased by 17 thousand in October 2011 to 455 thousand, according to the most recent figures released by Statistics Netherlands.

Unemployed reached 5,8 percent of the labour force - the same as February 2010.

At the same time, an increasing proportion in the Dutch population think unemployment will rise over the next 12 months. More specifically, in October, 65 percent of consumers expected more unemployed in the next year, while only 10% believe that employment level will improve.

Note that unemployment was not a major concern for consumers until this summer.