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The Dutch temporary job market has stalled for market leader Randstad. For the first time in a year and a half, the company’s turnover in the Netherlands did not grow.
It has been exceptionally busy for recruitment agencies for a year and a half. At the beginning of the Corona crisis, companies called on temporary workers en masse, but soon they needed more people. Due to the tight labor market, companies are calling in temporary staffing agencies at higher rates to find new employees.
According to Randstad, this growth ended in the third quarter of this year. There is growth all over the world. Turnover increased by 12 percent to more than 7 billion euros.
In almost all regions where Randstad is active, such as the United States, Japan and Australia, there has been a greater demand for services from the recruitment agency. Only in Holland and Belgium growth stopped.
According to Dominic Hermanns, CEO of Randstad Netherlands, this is mainly because the past year has gone very well in the Netherlands. The company then placed several temporary workers on the Corona test streets that are now partially closed.
But it also sees some companies taking action due to rising energy costs and uncertainty. “There are companies here and there that suggest they need fewer people, but you can’t relate that to a sector post. It’s very anecdotal.”
Since the beginning of this month, Randstad has seen some reluctance among companies around the world to hire new employees.
Unemployment in the Netherlands has risen to 3.8 percent of the workforce this year. Within six months, more than 60,000 unemployed people were added. It was announced last week that companies are filing more layoffs and that the decline in unemployment benefits is over.
At the same time, the labor market is still very tight. Dominic Hermans of Randstad Netherlands doesn’t think this will change any time soon. “If you look at the aging numbers, I suspect there is still a lot of work to be done in our sector for a long time to come.”
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