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Dutch economy contracts over 1%, jobless total rises again

Thursday 15 November 2012

The Dutch economy contracted by a 'considerable' 1.1% in the third quarter of this year compared with the second, the national statistics office CBS said on Thursday.

With similar developments elsewhere in Europe, it is clear the Netherlands and EU as a whole have to take steps to ensure economic recovery, economic affairs minister Henk Kamp said.

'This is why the new cabinet wants to get the government's finances in order, get rid of unnecessary red tape and give companies better access to financing,' Kamp said in a statement.

Jobless total

Compared with a year ago, the Dutch economy shrank by 1.6%. Year-on-year there was fractional growth of 0.1% in the first six months of 2012.

The jobless total has also gone up, hitting 6.8% of the working population in October, the CBS said. In September, the official unemployment rate was 6.6%.

The youth unemployment figure in the Netherlands has now reached 13.3%.

No simple solution

Social affairs minister Lodewijk Asscher described the increase as 'strong'. There is no simple solution to solve the problem, Asscher said, adding that the Dutch unemployment rate is still among the lowest in Europe.

There are now five people chasing every job vacancy.

Household spending continues to decline, with a 1.8% drop in the third quarter. This means Dutch families have now reduced their outgoings for 18 months in a row, the CBS said.

© DutchNews.nl


Readers' Comments

and this is just a beginning

By dee | 15 November 2012 3:24 PM

Mass unemployment predictable?

How have bank bailouts helped, did this help industry or ordinary citizens?

Are austerity measures the correct solution?

Is it fair to keep on sacking people to maximize corporate profit?

Has raising VAT from 19 to 21% helped the economy by encouraging people to spend ?

Has the new government done it's best to find good solutions to help us, or itself & the elite?

Do we really need the EU, or does it need us?

Was there too much time & money wasted discussing weed passes?

Are we all going to put up with another 4 years of this NONSENSE??

All answers please to: sampson&delilah@wtf.wescrewedup.com

cheers! :)

By The visitor | 15 November 2012 4:32 PM

My wife & I would like to know why the government stands by allowing so many large firms to sack employees, but only in order to keep their profit margins high. We both consider this unfair & unnecessary.
We both think this is one of the main causes of unemployment.

We gather that the new government wants us all to work together to overcome the economical problems, does that include the minority that holds the majority of the wealth?

We were both happy to have Mr.Rutter thinking what a sensible charming leader, but now feel that he is better suited to selling used lottery tickets. (Sorry for the insult.)

By Mr.Fussmucker | 15 November 2012 6:44 PM

Mr Fussmucker and Visitor, I, and most of Europe it seems, agree with your sentiments. It appears that the experiment known as 'capitalism' has come full circle. Nobody buys the 'sack the working man to keep the shareholder happy' philosphy going anymore (on this side of the water, at least).

When a family cannot feed it's children, then anarchy is only moments away. That is not a financial experience, but human nature. All of our lives may be about to change, and those who don't quite get the reasons behind revolutions might be wondering if the 'working lunch' they are being wheeled out for doesn't really involve the proverbial Madame Guillotine.

By osita | 15 November 2012 7:58 PM

Well, the more jobs will be outsourced - what my company is planning - the 'better' it will be here in NL.
Nobody can see how harmful this process is.

India, Romania, Poland, Mexico. This is where our wealth is now.
Let's fly to India

By charing-X | 15 November 2012 9:11 PM

@Mr. Fussmucker: employment is a free relation that can be ended within a proper set of guidelines. It is not a right (to be employed), it is not an entitlement, it is a contract whereas you trade your skills for payment.

No employee should be ever kept in his/her post if his/her work is no longer needed.

By Andre L. | 16 November 2012 8:10 AM

They should cut company tax and capital tax to nil and all the companies will compete to set up firms here. There will be no unemployment, our people can find meaningful jobs and pay tax, there will be no need to pay unemployment benefits. Tax revenue will increase.

By ufo | 16 November 2012 8:18 AM

I totally agree with Andre L. Since when an employment is a right for everyone? IMHO, this country is spoiled. I noticed many unmotivated people at work just because they feel like: "I have a permanent contract anyway so what more do I need." Honestly, I see that sacking those people will not cause a major loss for the companies/universities.

By Mackenzie | 16 November 2012 9:12 AM

@Andre L.

Last time I checked, a right to work has been enshrined in the Universal Declaration of Human Rights and recognized in various provisions of international law:

Article 23.1 of the Universal Declaration of Human Rights states:
"Everyone has the right to work, to free choice of employment, to just and favourable conditions of work and to protection against unemployment."

But it seems that greed and ignorance of the political & business elite is good reason to keep forgetting this...

By Goran J. | 16 November 2012 10:02 AM

@The Visitor

Ditto! When will the sheeple say, enough is enough?

By Highlander | 16 November 2012 12:25 PM

@Mackenzie @Andre L

Co-operatives, are the way forward, we just have to waken up to the idea that Capitalism has failed. And, people do have the right to steady employment if, they make an effort and, most do. The hire and fire mentality is the reason our society has little empathy for the working man.


By Highlander | 16 November 2012 12:32 PM

Wow, this site is worth more than all economics textbooks I've read in my life.
Simplistic angry comments or banker bashing will not pull us out of this mess. Ideas and hard work will.

By JSF | 16 November 2012 5:18 PM

@Highlander, Goran J, osita: yes, yes & yes.

@JSF, Mackenzie & Andre L: no, no & no..

We all have the right to work, why should our jobs be compromised to serve the elite & their insatiable greed?

http://youtu.be/9JyWGMv7ROo We are not all sheeple! "V" ;)

By The visitor | 18 November 2012 2:02 PM

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