Sacked bankers find it hard to get a new job, survey shows

People who have lost their positions in the banking and insurance industry are finding it tough to land a new job, the Financieele Dagblad said on Thursday, quoting figures from the state jobs centre UWV. Only 27% of the people who lost their financial services sector jobs in 2016 were back in work after a year, compared to the average industry-wide figure of 63%. In 2014, 38% of former bankers had found jobs within 12 months. The financial services sector employed 288,000 people in 2005.  The number is projected to fall to 222,000 by 2020. Digitalisation and automation made inroads on banking sector jobs, the FD said. Moreover, only 10% of people aged 50 and older found new jobs. Both ING and ABN Amro told the paper they ran schemes to retrain redundant workers for jobs elsewhere in the bank. ‘If any task it easy to digitize, then it’s only a question of time before that happens,’ said De Unie union spokesman Emanuel Geurts.  More >

Wages rose an average 2.1% last year

Pay deals agreed in sector-wide talks were up by an average of 2.1% last year, the highest increase since 2009, the national statistics agency CBS said on Thursday. That year the effect of the economic crisis still had to be fully felt and wages rose 2.8%. In 2017, wages rose 1.8%, the highest rise in six years. Unions, economists, prime minister Mark Rutte and the central bank chief have all called for wages to go up because of the improved economic conditions. Workers are also set to keep more of their income this year because of income tax cuts this year. In September, the biggest Dutch trade union federation FNV said it is targeting a pay rise of 5% in the coming round of pay and conditions talks, its biggest demand in 30 years.  More >

Fewer older civil servants, figures show

The government wants companies to take on more older unemployed workers but is setting a bad example itself, the Telegraaf reported on Friday. The number of people over the age of 50 joining the civil service in 2017 actually fell slightly compared with the previous year, the paper said. And the over-50s now make up 11% of the national civil service workforce, down from 15% in 2015. The figures are particularly remarkable because in 2016, the government allocated €68m to boosting the job opportunities for the older unemployed, the paper points out. 'Government HR managers are making the same choices as industry,' said Reinier Catelein, of white collar union De Unie. Christian Democrat MP Pieter Heerma told the paper that he would raise the issue in parliament. 'You would expect the government to set a good example,' he said. A spokesman for the home affairs ministry, which is in charge of the civil service, said that officials pick 'the most suitable person' for the job.  More >

Pay gap unchanged, revised figures show

The wage gap between men and women did not shrink between 2014 and 2016 but young women do now earn more than young men in the early stages of their career, according to new calculations by national statistics office CBS. The new figures are corrected for factors such as level of education, work experience and working hours and show no change in the size of the wage gap between men and women. Uncorrected figures published earlier show the public sector wage gap had gone down from 10% to 8% and in the private sector from 20% to 19%. In the public sector, women earn more than their male colleagues up to the age of around 36, the CBS said. In the private sector, women outstrip men in earnings up to the age of 26, but men really start to widen the gap from the age of 32. Gender pay gap: meet the lawyer training women to ask for more The difference in pay can partly be explained by the different jobs men and women traditionally do. For example, if men and women are doing the same job, the difference in pay is 17%, and if they are both in leadership roles, the difference drops again to 15%, the CBS said. Taking factors such as experience and working full or part time into account, the pay gap shrinks again to 7%, the CBS said. Differences which have not been factored in include the impact of career breaks to raise children, absentee rates and straightforward discrimination. Just 25% of Dutch women have a full time job.  More >

Job vacancies reach new record

The number of job vacancies in the Netherlands reached 262,000 at the end of September, a new record high, the national statistics office CBS said on Wednesday. With unemployment shrinking to 3.8%, there is now one vacancy for every 1.3 workers - compared with seven vacancies at the end of the economic crisis in 2013. Demand is highest for people working in trade and retail, business services and healthcare the CBS said.   More >

Lower pay demand no help to older jobless

Despite the economic revival and the mounting shortage of staff in some sectors, the over 50s still find it hard to get a look-in, the Telegraaf reported on Tuesday. Even if the over 50s lower their salary expectations, companies still don't want to employ them, research using information gleaned from the government's socio-cultural think-tank SCP has found. 'If older workers mention their previous salary, employers think they are too expensive,' Utrecht University professor Joop Schippers told the paper. 'But if they ask for a more modest salary, employers begin to think something is not right and that the candidate does not believe he or she are right for the job.' Schippers studied the experiences of hundreds of people who took part in the SCP's biennial labour market report. He found that older workers apply for jobs just as much as younger people and are prepared to reduce their salary expectations, but they are still less likely to get a job. Even if someone over the age of 55 is prepared to cut their salary demand by 25% their chance of getting a job only rises from 17% to 24%, Schippers found. Figures from the national jobs agency UWV show that half the over 50s who lose their jobs are out of work for more than a year, compared with one third of the workforce in general. Schippers' research will be published in the academic journal Tijdschift voor Arbeidsvraagstukken shortly, the Telegraaf said.  More >