‘Dramatic job losses due to corona crisis’ | Financial

This is announced by the Central Bureau of Statistics (CBS). “The job growth of the past two years is thus wiped out in one fell swoop,” according to Statistics Netherlands. Chief economist Peter Hein van Mulligen calls the job losses ‘dramatic’.

Lots of hidden unemployment

Much unemployment is hidden because the government has tried to prevent reorganisations with generous support. The number of jobs fell by 3 percent in a quarter, but the total number of hours worked decreased by more than 6 percent.

“Many people have lost their jobs, but there were also many people who had nothing to do and were paid at home,” said Van Mulligen. “You could call that a form of hidden unemployment.”

Economic decline

On Friday, Statistics Netherlands will announce how much the Dutch economy has shrunk in the months of the lockdown.

Read all about the record decline in the number of jobs here:

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