In December 2020, the euro areaseasonally-adjusted unemployment rate was 8.3%, stable compared with November 2020 and up from 7.4% in December 2019. Between 1 Februrary and 31 August, employees on partial unemployment receive a benefit amounting to 70% of their average monthly salary (capped at €2,754.76). ... An extension is granted for the deadline to pay social security contributions for the first and second quarter of 2020 until 15 December 2020. The unemployment rate, which was at an all-time low just a year ago, is projected to rise to more than 7 %. Belgium August 19 2020 From 1 September 2020, new rules on temporary unemployment will enter into force. From the ist of January, 2021, the allowance will go up by 1.125% each year, not counting automatic wage indexation and welfare-envelope payments. Knoema, an Eldridge business, is the most comprehensive source of global decision-making data in the world. Unemployment for Belgium from National Bank of Belgium - Belgostat (BNB) for the Monthly Labor Statistics release. The novel coronavirus (COVID-19) pandemic of 2020 proved to be a challenging period for the global economy. Direct access to our calendar releases and historical data. In February 2020, 2.734 million young persons (under 25) were unemployed in the EU, of whom 2.258 million were in the euro area. On Friday 20 March 2020, the Belgian federal government has decided that only one simplified regime of temporary unemployment will be applicable until 30 June 2020, provided that the precautionary measures are still in place. In 2019, one year before COVID-19 unemployment rates continued to vary widely across the EU’s 27 member states. Quick data summaries and visualizations on trending industry, political, and socioeconomic topics from Knoema’s database. Publish your articles and forecasts in our website. Tuesday, 24 March 2020. Credit: Belga. You can change your personal cookie settings through your internet browser settings. Okay to continue [OECD Main Economic Indicators, OECD, monthly] As defined by the International Labour Organization, "unemployed workers" are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work. ** The 2020 and 2021 foreceasts from the NBB are consistent with the estimates from December 2020 in the Economic Revue (next update - Economic Revue June 2021). World and regional statistics, national data, maps and rankings, Discover new signals and insights from leading alternative and fundamental data providers, Latest releases of new datasets and data updates from different sources around the world. Belgium Economic Outlook. The maximum rate was 5.7 % and minimum was 2 %. The new simplified regime of temporary unemployment. Belgium unemployment rate was at level of 6.1 % in 2020, up from 5.4 % previous year. On the other hand, it increased, by 641 units, in Brussels (20,847). In some countries, unemployment rates reached a really high percentage causing concern to governments. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Data for Q3 shows that industrial production deteriorated at a reduced rate in July–August relative to Q2. Belgium unemployment rate was at level of 6.1 % in 2020, up from 5.4 % previous year. Temporary secondment of workers in vital sectors; Since 1 April 2020, it was possible to second workers during a period of their time credit / career break / temporary unemployment to an employer in a vital sector (agriculture, horticulture and forestry). The OECD harmonized unemployment rate gives the number of unemployed persons as a percentage of the labor force (the total number of people employed plus unemployed). Due to the coronavirus outbreak, the government has relaxed the rules of unemployment and volunteer work until 30 June 2020. By the year 2023, it is expected to rise to 1.9 %. In 2020, the unemployment rate in Belgium was at approximately 5.69 percent. There is an exemption for the temporary unemployed person: they do not have to declare the voluntary work they perform for a private person or a charity. The description is composed by our digital data assistant. Of course, data won’t be satisfactory either at the end of 2020 due to the spread of coronavirus that has highly affected the economy and the … capac (22.09.2020) Since September 1, 2020, the rules for temporary corona unemployment have changed. Sentifi | AI-based Monitoring of Market Moving Events, Growing Inequity Highlighted in US President Biden's Inaugural Speech, Current account balance as a share of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. Unemployment for Belgium from National Bank of Belgium - Belgostat (BNB) for the Monthly Labor Statistics release. Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. Search and explore the world’s largest statistical database to find data. Only sectors and companies recognized as particularly affected can apply for temporary corona unemployment until December 31, 2020. October 27, 2020. Belgium’s economic freedom score is 68.9, making its economy the 48th freest in the 2020 Index. Its overall score has increased by 1.6 points, led by an increase in the government integrity score. This kind of collaboration between employers and workers has resulted in a dynamic, flexible and protected workforce (Belgian workers enjoy excellent protection from unemployment and illness). Unemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. Belgium Business Confidence at 11-Month High, Belgium Consumer Morale Worsens in January, Belgium Industrial Output Rebounds in October, Belgium Current Account Balance Swings to Surplus in Q2, Belgium Producer Price Deflation Eases in August, Belgium Construction Output Falls the Most since 1993, Belgium Posts Smallest Trade Surplus in 5 Months, S&P 500 Books New Record Despite Weak Employment, US Consumer Credit Grows Below Expectations, Seychelles January Inflation Rate Highest since 2012, South African Stocks End Higher on Friday. 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. (2) Canada: Unemployment rate for November 2020 was 8.5%. 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