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Unemployment rate in the Netherlands per month 2003-2020

June 2020, the third full month of the coronavirus pandemic in the Netherlands, reveals a signficant increase in the unemployment rate. In January, the non-seasonally adjusted employment rate for ages 15 until 75 years was said to be 3.3 percent, whereas in March it increased to 3.6 percent. This contrasts the figure for March, which was slightly below than what was predicted back in December 2019, when economic models forecasting an annual average of 3.5 percent. When compared to the same months in previous years, however, unemployment in 2020 was significantly lower. The figure for May 2020, for example, was over half that of May 2015.

What are the economic consequences of COVID-19 so far?

Domestic sources agree that economic impact is severe, although they have been reluctant to provide precise figures. Some sources outright refused to release data, whereas others stated they were not releasing official forecasts, but estimates. In their opinion, there were too many unknowns. Because of this, numbers on the exact economic consequences of the coronavirus in the Netherlands varied wildly. The CPB or Netherlands Bureau for Economic Policy Analysis (on whose calculations the Dutch government bases its economic policy), for example, predicted GDP decreases between 1.2 percent and eight percent for 2020. CPB based these figures on four possible scenarios, based on how long emergency measures to counter COVID-19 would be in place. Rabobank’s GDP predictions for 2020 changed multiple times over the course of the pandemic, going from a growth of 0.7 percent in early March to a decrease of five percent in mid-April.

Which Dutch sectors are hit hardest?

Calculations from ABN AMRO economists named leisure and industry as the main victims of COVID-19 in 2020, with both sectors seeing their added value decrease by more than ten percent. This is similar to calculations from Rabobank, which mentioned horeca (hotels, restaurants, bars) and construction, and added that these sectors would not be recovered by 2021 from all the damage suffered in 2020.

Unemployment rate in the Netherlands from January 2003 to July 2020

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Source

Release date

August 2020

Region

Netherlands

Survey time period

January 2003 to July 2020

Age group

15-75 years

Supplementary notes

* The figures provided are provisional.

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Statistics on "Economy of the Netherlands"

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