It is becoming increasingly difficult for companies to find suitable staff. According to a semi-annual report by De Nederlandsche Bank (DNB), companies are struggling with hindrance due to labour shortages. Logistics are particularly affected.
According to DNB, the economic upturn has now passed its peak. Bruo domestic product (GDP) grew by 3.3 per cent last year. In the coming years, that growth will steadily decline.
Tightness hinders business operations
Meanwhile, the labour market shortage is still widening. One in five entrepreneurs said in the second quarter of this year that the shortage of staff hinders their business operations. In 2014, only 3 per cent of entrepreneurs indicated this. DNB: "In a growing part of the economy, this is going to pinch."
Signs of an overheated economy
Especially in logistics, finding good employees is a problem. Business services and information & communication also face staff shortages. In the culture, sports and recreation sector, there is no shortage. According to DNB director Job Swank, all this is not yet leading to an overheated economy, but "it is starting to move in that direction".
Consequences of protectionism and trade war
DNB also named the potential danger of increasing protectionism and a possible trade war between the United States, China and the European Union. Should the trade conflict go in the wrong direction, DNB expects economic growth in the Netherlands to be 0.5 per cent lower on average.
