The Labour market : the crisis is past 2011-07-06

The recovery of the global labour market, which had set in during the first half of the year 2010, is continuing in the first quarter of 2011, a situation which is characterized by the fact that both in terms of jobs and work volume the levels registered prior to the economic crisis are again attained or even surpassed. In the branches that were most concerned by the economic crisis (industry, logistics, financial sector), the level of employment stabilizes since already three quarterly periods, notwithstanding the closures and restructuring operations carried out during this period. The temping sector continues recovering and attains once again the level registered in the beginning of 2008. In the social profit sector and the sector pursuing activities by means of the service cheque system, the increase of both the number of jobs and the work volume is still considerable.

During this quarter, especially the rise in work volume expressed in full-time equivalents on an annual basis (+ 2.9 % or + 81,000 FTE) is remarkable. Whereas the recovery of the work volume in full-time equivalents during the fourth quarter of 2010 was still contained by the bad weather conditions of the month of December, the first quarter of 2011 should be considered as a particularly favourable period for the construction industry and the affiliated industrial sectors. The bias produced by the comparison on an annual basis (with regard to the work volume of the first quarter 2010, which had also been highly been reduced by the bad weather conditions) may be assessed at more or less 24,000 FTE.

The recovery of the labour market is also perceptible among the groups of workers touched most by the crisis. A rise in employment can thus be noticed among the men younger than 25 years and the age group from 25 to 40 years. Moreover, once again a clear growth of the number of full-time jobs can be discerned.

If you need more information, you can also consult the new edition of the rapid estimations of employment (available in Dutch or in French).

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