Moody’s Analytics. Unemployment is a serious social and economic issue that results in a tremendous impact on everything but is often overlooked. Belgium unemployment rate for 2017 was 7.09%, a 0.74% decline from 2016. Belgium - Unemployment ... forced cessation of work in the event of force majeure or cessation because of economic difficulties. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. The National Bank of Belgium publishes economic projections for Belgium twice a year. The results are discussed in more detail in the December 2020 issue of the Economic Review. and Consumer Credit Risk Solutions from within a period of at most three months from the end of the reference week. 2019-2020). Please note that temporarily unemployed persons are temporarily absent from work and are counted as employed. The economic activity rate represents the share of the labour force (employed + unemployed) in the total population within a given age group. 2019Q1-2020Q1). Join your colleagues in participating in this were available for paid employment or self-employment within two weeks after the reference period; (c) were seeking work, i.e. LFS : Methodological improvements of the Labour Force Survey (LFS) 2017 (PDF, 97 Kb), Harmonised Index of Consumer Prices (HICP), Mortality, Life expectancy and causes of death, An overview of Belgian wages and salaries, Demography of enterprises in the market sector, Demography of employers in the market sector, High-growth enterprises in the market sector, Statistics on the number of VAT units (monthly), Economic indicators of the environmental sector, Environmental protection expenditure of enterprises, Inland water transport ("Waterborne transport"), Turnover in the services sector (according to VAT returns), Monthly evolution VAT-registered enterprises, 30 days by activity, Active (working and unemployed) population since 2017 based on the reformed Labour Force Survey, by quarter, region, age class and level of education, Actieve (werkende en werkloze) en inactieve bevolking van 15-64 jaar volgens leeftijdklasse per geslacht voor België en Gewesten, 2006 en 2016, Employment rate, unemployment rate and activity rate by level of education and gender for Belgium and the regions, 2006 and 2016, The labour market in relative quarterly figures, Trimestriële arbeidsmarktindicatoren volgens leeftijd en geslacht - absolute en relatieve cijfers (2017-2020, 3de kwartaal), Annual labour marked indicators with regard to activity, sex, age group (population aged 15 to 64) and region of residence, Enquête naar de arbeidskrachten: publicatie met gedetailleerde cijfers 2018, Huishoudens waar niemand betaald werk verricht (2001-2019), Transition in employment status year to year, Transition in employment status quarter to same quarter year before, Transition in employment status quarter to previous quarter, Methodological improvements of the Labour Force Survey, Sharp increase in ILO unemployment rate in the third quarter of 2020, 40% of homeworkers do so for the first time in the second quarter of 2020, Employment and unemployment remained stable in the first quarter 2020Â, 70.5 % of people aged 20 to 64 are employed in 2019, Records on the Belgian labour market in 2018, Young people, women and highly-skilled people in particular are looking for another job, Employment and unemployment (Labour Force Survey), Compared to the previous quarter, the majority of the employed are still at work (95.7 %). Unemployment benefits in Belgium are subject to complicated requirements and restrictions, depending on your age, work experience and family situation. Such a financial shock can be partly absorbed by the system of temporary unemployment. We distinguish three ILO statuses on the labour market: employed, unemployed and inactive. The annual transitions are the means of four quarter specific annual transitions for two successive years (e.g. Category: Countries > Belgium, 122 economic data series, FRED: Download, graph, and track economic data. Statbel, the Belgian statistical office, publishes for the first time labour market transitions based on the Labour Force Survey. In 2019, the job market in Belgium was characterized by an employment rate of 65.3 percent and an unemployment rate of 5.4 percent. If one indicates to work in the reference week of quarter Q and in the reference week of quarter Q+1, they are counted twice as employed. Personal and consumer debt soared, as did the nation's deficit. This page provides - Belgium Unemployed Persons - actual values, historical data, forecast, chart, statistics, economic calendar and news. Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 100.21 Amplitude adjusted Long-term average = 100 Dec-2020 Belgium Long-term average = 100 Household disposable income Indicator: 2.6 Net Annual growth rate (%) Belgium - Belgium - Economy: Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. So, if one speaks of a particular status in a particular quarter, it is by definition the status in the reference week. The respondents participate four times: they participate for 2 consecutive quarters, then don’t for 2 quarters, and then participate again for 2 quarters. The Belgian economy also is inextricably tied to that of Europe. is someone who is unemployed still unemployed in the next quarter and/or year? Population coverage: The population aged 15 years and over, living in both private and collective households, is covered. According to a flash estimate, the economy stagnated in the fourth quarter amid a second Covid-19 wave and tighter restrictions, growing a mere 0.2% on a seasonally-adjusted quarter-on-quarter basis, after rebounding 11.6% in Q3. 286 economic data series with tags: Belgium, Unemployment. Unemployment Rate in Belgium averaged 8.15 percent from 1983 until 2020, reaching an all time high of 11 percent in October of 1983 and a record low of 4.90 percent in March of 2020. However, compared to the previous year, we observe that slightly fewer people remain employed on the labour market. Initially, there are two relevant systems: temporary unemployment due to force majeure and temporary unemployment due to economic … Unemployment for Belgium from National Bank of Belgium - Belgostat (BNB) for the Monthly Labor Statistics release. As covid-19 drives unemployment rates around the world to levels unseen in generations, once radical economic policy proposals are rapidly gaining a hearing. Adaptation of the validation procedure for endorsing 136F documents for diplomatic and consular missions and international organizations in Belgium. They are no exact figures but approximations based on the extrapolation of a random sample from the Belgian population. Meanwhile, the king-dom's main economic activity shifted northward into Flanders. The selected respondents answer a questionnaire mainly related to their activity in the course of a given reference week. Unemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The above indicators (employment rate, unemployment rate and economic activity rate) are the most important indicators for international comparisons of the labour market evolution. Unemployment rate in Belgium 2020 Published by H. Plecher, Nov 11, 2020 This statistic shows the unemployment rate in Belgium from 1999 to 2020. Data for Q3 shows that industrial production deteriorated at a reduced rate in July–August relative to Q2. The latest OECD Economic Survey of Belgium notes that robust job creation, albeit mostly in low-wage industries, has led to the unemployment rate falling to a historic low. The two relevant systems are: temporary unemployment because of force majeure; and temporary unemployment because of economic reasons. Geographical coverage: The whole country is covered. This way, we can observe what the labour market status of a given respondent is in a given quarter, and a quarter and/or a year later: e.g. had taken specific steps during the last four weeks including the reference week to seek paid employment or self-employment, or who had found a job to start later, i.e. ... Economic Data, Research, Advisory, Forecasting and Consumer Credit Risk Solutions from Moody’s Analytics. Totals are obtained by adding up these four basic categories. Compared to the previous year, this is still 87.9 %. Unemployment has disproportionately affected young people, non-European immigrants and Wallonia as a whole. The definitions regarding employment and unemployment that are mentioned are those of the International Labour Office (ILO) to allow international comparison. Belgium’s economy has been trapped in the moderately free category for nearly a decade, having fallen from the mostly free rank it held earlier. As a result, they cannot be compared with administrative unemployment figures. International standards: In accordance with the Eurostat recommendations, the unemployment rate is calculated according to the recommendations of the 13th International Conference of Labour Statisticians organised by the International Labour Office (ILO) in 1982. January 29, 2021. When the unweighted number of persons is lower than 30, data should be interpreted with caution. The labour market was particularly affected by the coronavirus crisis between the first and second quarters of 2020. Belgium Economic News. This page provides the latest reported value for - Belgium Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic … Data are subject to revision, for a period of up to 12 months, because of reconciliation with a new annual labor force survey. The Labour Force Survey is a continuous survey, which means that the sample is spread evenly over the 52 weeks of the year. In 1990, the government linked the Belgian franc to the German mark through interest rates. Belgium unemployment rate for 2019 was 5.59%, a 0.36% decline from 2018. … If, due to impact of the new coronavirus outbreak, an employer is affected by a drop in clients and cannot provide work, the employer may rely on the temporary unemployment due to economic reasons mechanism. The unemployment rate is the number of unemployed persons as a percentage of the labour force. Belgium: Economy loses momentum in Q4 but outperforms expectations. The normal regime of temporary unemployment. Monthly data: end-of-month data.Annual and quarterly data: average of end-of-month data. They have either used it because of an emergency or for economic reasons caused by the Coronavirus. The Belgian National Employment Office makes a distinction between two situations. Non-residential - Commercial & Retail - Vacancy, Nominal Fixed Investment (gross fixed capital formation), Real Fixed Investment (gross fixed capital formation), National Bank of Belgium - Belgostat (BNB). The quarter specific annual transitions are the sums of weighted observations of respondents participating in the same quarter of two consecutive years (e.g. Belgium - Unemployment The economy should have recovered somewhat in Q3 after entering recession in Q2, although the pandemic continued to weigh on activity somewhat. As a response to the COVID-19 crisis, between 13 March and 31 August 2020, temporary unemployment due to COVID-19 is considered as temporary unemployment due to force majeure, making the support also available to white-collar workers. exclusive survey of global business confidence. The economy of Belgium is a modern, capitalist economy that has capitalised on the country's central geographic location, highly developed transport network, and diversified industrial and commercial base. 2019Q4-2020Q1, 2020Q1-2020Q2). Please note: The ILO unemployment figures are unrelated to any possible registration with the VDAB, Actiris, FOREM or the ADG, or to the receipt of unemployment benefits from ONEM (National Employment Office). (a) during the reference period were without work, i.e. The labour force is the total of the employed and the unemployed persons. The quarterly transitions are the sums of weighted observations of respondents who participated in the successive quarters (e.g. © 2021 Moody’s Analytics, Inc. and/or its affiliates and licensors. The survey is harmonised at European level. Belgium unemployment rate was at level of 6.1 % in 2020, up from 5.4 % previous year. The IMF expects the unemployment rate to continue growing to 7.6% in 2021 and then fall to 6.6% in 2022. This benefit is not granted by unemployment insurance. While many unemployed became inactive last quarter, they are now looking for work again. Many inactive people remain inactive: compared to the previous quarter, 89.5 % of people aged 15-74 are still inactive. All rights reserved. For all solutions offered by The figures presented here are part of an analysis to be published which focuses on the methodology of labour market transitions. Belgium was the first country to undergo an industrial revolution on the continent of Europe in the early 19th century and has since developed an excellent transportation infrastructure of ports, canals, railways, and highways to integrate its industry with that of its neig… More info on the Labour Force Survey is available at: The Labour Force Survey is a sample survey among private households, held throughout the year. The definitions applied are available here: https://statbel.fgov.be/en/themes/work-training/labour-market/employmen…. The low labour market participation rate remains a major challenge for Belgium in the coming years. This must be taken into account when interpreting the results. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Economic forecast for Belgium The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). In this case, the employer no longer needs to pay the wages of the employees and the National Employment Office will pay unemployment benefits of around 70% to the employees. These simplification measures were extended until 31 August 2020 in respect of temporary unemployment due to a force majeure event and for unemployment due to economic reasons. Both regimes have their own administrative formalities and some form of motivated request had be introduced to benefit from either regime. Although unemployment in … This page provides forecast and historical data, charts, statistics, news and updates for Belgium Unemployment. Additional Resources. More than 1,700 businesses have already benefited from the temporary economic unemployment system. The above indicators (employment rate, unemployment rate and economic activity rate) are the most important indicators for international comparisons of the labour market evolution. It is based on the replies of almost 123,000 persons (respondents) of working age (15 and older). The longitudinal sample is calibrated to the estimated distributions of ILO labour market status per age, gender, region, level of education and nationality in the start and end quarters. The 1980-82 recession was particularly severe and resulted in massive unemployment. 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