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Economy contracts 1.1% in third quarter, jobless total hits 6.8%

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.

Compared with a year ago, the 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%.

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.

CBS quarterly report (in Dutch)

What action would you take? Share your thoughts using the comment box below.

© DutchNews.nl


Readers' Comments

the unemployment is much higher but hidden.
Many people are now forced to work as ZZPer with zero hour contracts in zorg an building sectors.
so they have "work" but zero guaranteed income. They are expected to take unemployment insurance.
If you include the number of these that have zero income then unemployment is around 10%

By nd | 15 November 2012 10:12 AM

This is typical of conservative rule. Bring back Geert!

By phil | 15 November 2012 10:17 AM

What actions would i take? More Austerity, tax breaks for the rich, non stimulus policies............Oh wait!!

By Stanley Road | 15 November 2012 10:56 AM

There is just one thing that may actually help: lowering the minimum salary levels for all age-groups. Everything else will increase unemployment in either short or long term.

By rapid | 15 November 2012 11:17 AM

Vicious circle, more cut and more tax means less consumption, negative economic growth, florishing uneloyement rate, so they need to cut and tax even more,... I think they should renegociate with Europe, what is working in Germany is not necessarily what we need in NL, different countries, different History, different Economy,....What good is it to reduce the deficit,etc, if the Economy goes to rubbish anyway,.....

By JulesC | 15 November 2012 11:27 AM

I should campaign for a r├ęduction in BTW.

By Me | 15 November 2012 11:52 AM

Well the government wants us to spend less(at least in NL). Signalled by a VAT rise.

By expat | 15 November 2012 12:12 PM

Actually the question should be 'What action could you take?' Answer: Learn to live within your means. What else can people do when the prices of food, petrol, taxes and healthcare are constantly rising.

By JoAnn | 15 November 2012 1:50 PM

Who are we gonna blame now?

Muslims? Been there, done that, besides they have been beaten into servility.

East Europeans? Been there, done that, besides most are going back.

Germans? Yes, we haven't done that in a while... It's all their fault

By Johannes | 15 November 2012 2:44 PM

Why not make a little less profit than sacking: sacking = no output + uitkering = increases debt = drives up inflation & other taxes = reduces spending = industry slows down & exports decline..

Almost a third of the work force temping, is that also good? Temps cannot buy property, bingo - construction suffers, downward spiral continues :(

There has to be a better solution, but what?

By The visitor | 16 November 2012 1:04 PM

Follow Barry Obama's lead and blame GW Bush - it's always somebody else's fault and responsibility.

By Miguelito | 18 November 2012 12:57 PM

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