Job growth to slow down amid economic uncertainty: UWV

The increase in the number of jobs in the Dutch labour market will slow until 2027 because of economic uncertainty, benefits agency UWV said on Tuesday.

Between 2024 and 2027, the number of jobs in the Netherlands will grow by some 100,000, compared to 300,000 between 2022 and 2024 and double that number between 2020 and 2022.

Declining economic growth, uncertainty about American president Donald Trump’s tariffs, and lack of staff are leading to less investment, which impacts jobs, the agency said.

Increasing labour costs, more expensive transport and raw materials are also putting the brakes on job growth, UWV spokesman Rob Witjes told broadcaster NOS. “We are seeing caution on the part of employers, particularly in the chemical and electrotechnical industries and in transport and storage,” he said.

Healthcare and hospitality are some of the sectors in which demand for staff will continue to grow. “The higher wages mean people have more to spend. That is good for the hospitality sector,” Witjes said.

Two-thirds of businesses are currently facing staff shortages. Bars and restaurants, in particular are having problems attracting permanent staff.