The Netherlands will have few new jobs in the coming years due to aging and moderate economic growth, according to benefits agency UWV. It expects an increase of 130,000 jobs between 2024 and 2027, a growth of just 1.1 percent.
Job growth will be much lower than in recent years. Between 2021 and 2024, 750,000 jobs were added in the Netherlands. UWV does not think the job market will shrink, because the economic outlook remains positive with an average growth of 1.7 percent until 2027. The labor market will also remain tight.
Several factors explain the low job growth, according to the UWV. Due to aging, the working population is hardly growing anymore. The number of jobs is expected to shrink in agriculture, industry, the temporary employment sector and wholesale, while employment in healthcare is increasing.
UWV labor market expert Rob Witjes also points to possible American import tariffs under President Donald Trump in the press release. These may cause additional uncertainty among employers, which could further limit job growth.
“At the same time, demand for labor remains high due to the replacement of departing staff,” says Witjes. “Employers will continue to suffer from staff shortages in the coming years.” Due to this replacement, the UWV expects 1.5 million new vacancies annually.