Limited slowing down of the growth noticeable on the labour market

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Limited slowing down of the growth noticeable on the labour market 2012-04-06

Rapid estimations of employment – Fourth quarter of 2011

The economic slowing down of the growth that has started in the second half of 2011 is also already perceptible on the labour market. In the fourth quarter of 2011 a growth of the employment by 28000 jobs (0.8 %) can still be registered but this growth is less strong than during the preceding quarters. The growth loses ground within the 3 important sections of the labour market, i.e. "Industry and construction" (0.2 %), "Commercial provision of services" (1.1 %) and "Non commercial provision of services" (0.7 %).

The rise in the work volume expressed in fulltime equivalents on an annual basis is still stronger but this annual increase is biased due to the fact that the work volume during the fourth quarter of 2010 turns out to be lower because of the less favourable weather conditions. Adjusted for the weather conditions the growth on an annual basis more or less reaches 45000 fulltime equivalents (1.5 %), which corresponds to the level registered in the third quarter of 2010. In "Industry and Construction" the growth of the work volume is virtually equal to the increase in the number of jobs (0.3 %). The rise in the work volume expressed in fulltime equivalents in the sectors of the "Commercial provision of services" (2.4 %) and of the "Non commercial provision of services" (1.6 %) is however stronger than the rise in the number of jobs.

The growth within the particularly cyclically sensitive temp sector has come during the fourth quarter to a complete standstill. Only as regards the segment of the white-collar workers a small increase in the work volume can be noticed. Moreover the growth of the sector of the service check activities (+8%) has been much less powerful in 2011 than during the past years. The rise in employment is also determined by a number of branches (principally in the sector of the commercial provision of services), which react much more slowly to the fluctuations in the trends of the market and where the effect of the recovery of the economic climate of 2010 is still prevailing as well as by branches that are not so cyclically sensitive (chiefly in the sector of the non commercial provision of services).