Dutch Jobless Rate Rises; Consumer Sentiment Deteriorates

Dutch Jobless Rate Rises; Consumer Sentiment Deteriorates

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The Dutch unemployment rate continued to increase in July and consumer sentiment weakened as households were more pessimistic about the economic climate in August, data from the Central Bureau of Statistics showed on Thursday.

The jobless rate rose to 4.5 percent in July from 4.3 percent in June. The number of unemployed totaled 419,000 versus 404,000 a month ago.

At the end of July, unemployment benefits were paid to 301,000, unchanged from June. However, compared to February, before the outbreak of the coronavirus pandemic, unemployment benefits increased by 61,000.

Another report from the statistical office showed that the consumer sentiment index fell to -29 in August from -26 in July.

The sub-index measuring economic climate dropped to -59 from -51. Consumers were pessimistic about both the economic situation in the past 12 months and in the next twelve months.

The index for willingness to buy slid to -9 from -10. Consumers were less negative about the financial situation in the next twelve months. On the other hand, opinions about the financial situation in the past twelve months deteriorated slightly.

Consumers were also more pessimistic about future unemployment in August than in July.

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