Examining the labour market of 2020 in comparison to 2019 is certainly interesting. The average unemployment rate for 2019 was around 3.4%, this number is to no one’s surprise lower than the unemployment rate of 2020, which lies around about 3.8%.
The EU's average unemployment level rose from 7% in 2019 to 7.5% in 2020. The countries with the highest and lowest unemployment rate in the EU are still Greece, with a lower rate in comparison to 2019, 16.7%, and the Czech Republic with a slightly higher rate around about 3.1%
Considering that many sectors like the hospitality or tourism sector have a very low demand for workers, people might assume that the labour market has shifted from a candidate-driven market to a more company-driven market. However, with many other sectors doing extremely well during the pandemic, the market is fairly balanced. This shift also brought with it a shift in jobs and skills that are now more attractive and higher in demand than ever before, i.e. digital marketing roles or an analytical skillset.
We noted that in 2019 companies were required to offer higher wages, health and pension contributions and more permanent contracts to attract and keep talented employees. Now, a strong and supportive company culture, digital infrastructure and flexibility are what job seekers pay more attention too when it comes to finding an employer.
Last year has brought many changes to the labour market, however, the outlook on 2021 is promising. Many companies still moved to the Netherlands in 2020 and will soon offer more than 8.000 jobs, Amsterdam has become the number one share trading hub in Europe and the Netherlands is amongst the top 10 most innovative countries of 2021.
With a positive attitude, we will now look back on the year 2020 on the Dutch labour market:
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