More than 320 thousands new jobs will be created between 2016 and 2022 in Belgium

Posted by | July 19, 2017 | News

Some 322 thousands net jobs will be created across all three Belgian regions between 2016 and 2022.

This emerges from the regional economic perspectives from 2017 to 2022 published by the Federal Planning Bureau, and the 3 regional statistical institutes (IWEPS, SVR and IBSA). Growth in Wallonia and Brussels may, during this period, marginally come up to that of Flanders.

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Economic growth may mostly be higher between 2016 and 2018 in the Flemish region (1.7percent) than in Wallonia (1.3 percent) and in Brussels (1.1 percent). However, the differences between the regions will be partially captivated between 2019 and 2022, with GDP growth of 1.6 percent in Flanders, and 1.3 percent for the other 2 regions. These values are stated in the estimates.

Across the entire period from 2016 to 2022, net job creation could go up to 30,100 people per anum in Flanders (+1.1 percent), comparing to 10,700 in Wallonia (up 0.8 percent) and 5,100 in Brussels (up 0.7 percent). The years 2016, 2017 and 2020, taken together, will be predominantly fertile in this field.

At the same time, the unemployment rate is likely to continuously decline in the 3 regions. Indeed, the unemployment rate is predicted to go, in Brussels, from 18.4 percent in 2016 to 14.5 percent in 2022. Over the same period it is expected to decrease from 15.1 percent to 11.9 percent in Wallonia and from 7.8 percent to 5.1 percent in Flanders.

Across the entire period from 2016 to 2022, the active population is projected to increase by an average of 0.5 percent per year in Flanders and in Brussels, and by an average of 0.4 percent in Wallonia.

Furthermore, over the same period, the Flemish region may record a real-terms increase in productivity gains per capita of 0.5 percent per anum in the various market industries. In Wallonia and Brussels, this increase may be slightly less pronounced (0.4 percent).

 

Source: The Brussels Times

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