The curious ‘job mismatch’ in the Netherlands: it already has more job vacancies than unemployed. In the Netherlands there are 106 jobs offered for every 100 unemployed. There is a mismatch between the skills demanded by companies and the supply.
The economic recovery that has begun in advanced nations is leaving some rather curious stamps (in the form of data). In economies such as the US or the Netherlands there are already more job vacancies than unemployed.
In other words, even if all the unemployed were adjusted to the jobs offered in the market (something that never happens), there would still not be enough workforce to satisfy the companies.
The Dutch economy grew by 3.1% in the second quarter of this year after the reopening of restaurants and shops, compared to the contraction of the gross domestic product (GDP) in the first quarter, while job vacancies in The Netherlands outnumber the number of unemployed people, according to the Central Bureau of Statistics (CBS).
It is the first growth recorded by the Dutch economy, the fifth in the euro area, since last summer, an increase that also represents 9.7% more than the second quarter of last year, the highest year-on-year growth in history, said this Tuesday CBS.
The gradual lifting of restrictions against the coronavirus, with consumers spending money again, has brought down experts’ forecasts for the country’s economy, although it has not yet returned to pre-pandemic levels, and consumers are still spending. 5% less than in the second quarter of 2019.
Spending by the Dutch government also increased by 2.6% compared to the first three months of this year, for example, in financing coronavirus tests and in the purchase of vaccines against covid-19.
According to CBS, trade is what continues to grow the most compared to the pre-pandemic and last June exports were even 9.3% higher than two years ago, mainly exporting more machines, chemicals, metal products and transportation equipment. . The economic downturn continues to affect the tourism sector and the arts and culture sector.
In addition, CBS also confirmed the shortage facing the labor market in the Netherlands, where the number of vacancies exceeds the number of unemployed people seeking work for the first time since the labor market situation began to be measured in 2003.
In the second quarter of 2021, there were an average of 106 jobs on offer for every 100 unemployed looking for work.