The Dutch labour market has recovered and the unemployment rate has been converging towards pre-crisis levels.
The Netherlands is likely to be one of the European countries that is going to be significantly affected by the United Kingdom’s planned departure from the European Union (Brexit).
The Netherlands has experienced a large rise in the number of individuals working as self-employed with the share in total employment rising rapidly over the past decade. This is the largest rise in the OECD countries.
The Netherlands is experiencing vibrant economic activity, with gross domestic product (GDP) at about 8% above its pre-crisis peak and the unemployment rate below 4%. Growth picked up to above 3% in 2017, which was well above the euro area and OECD averages.
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This country note from Going for Growth 2017 for Netherlands identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
Strong and adequate skills are essential to support workers’ productivity and to ensure robust employment outcomes. Developing workers’ skills would also increase their personal satisfaction and wages, contributing in making growth more inclusive. The Netherlands performs well in terms of competences of a large part of the population. Moreover, the country has been successful in adjusting the required level of skills over time.
Investment has rebounded during the recent economic revival, but from a low level. The investment slump during the crisis was mostly caused by a fall in residential investment. However, business investment has been trending downwards since 1990, holding back capital stock accumulation and productivity.
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This country note from Going for Growth 2015 for Netherlands identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
Entrepreneurship is an important driver of economic growth, job creation and competitiveness. However, the small and medium-sized enterprises (SME) sector has been severely affected by the crisis, with access to bank finance being particularly difficult.
Dutch banks were put under heavy strains early in the global downturn and have comparatively weak financial buffers to cope with new shocks. Falling house prices have increased the share of households with negative home equity to nearly 35% for home-owning households and 40% for mortgage holders.