The Dutch central bank DNB said on Thursday it wants more reform in the jobs market in order to keep more older people in work.

Although unemployment at an average of 4.4% is low on an international level, the number of people between the ages of 55 and 65 with a job is too low at 54%, the bank said in a report.
‘This is a meagre number compared with some other countries,’ the bank said. ‘For instance, 75% of this age group is still active in the jobs market in Sweden.’
The bank thinks older people are being held back because of the relatively high level of redundancy protection and the long period of unemployment benefit. It wants the measures outlined in the five-party coalition package of austerity measures to be implemented.
Redundancy
These measures include a new redundancy law which will include a sharp reduction in compensation payments, and a cut in the length of unemployment benefit to one year.
When the measures were announced at the beginning of May, social affairs minister Henk Kamp said they would make it easier for older workers to move jobs, because they will no longer hang on for a large golden handshake.
The bank says that because older workers have the right to higher redundancy compensation, companies prefer to employ younger people. Cutting these payments and shortening the length of unemployment benefit will make it easier for them to find work.
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