The Netherlands is the sixth-largest economy in the European Union. Playing an important role in the European economy, the Netherlands has a persistently high trade surplus, stable industrial relations and a low unemployment rate. However, poverty still exists in the Netherlands. Discussed below are the leading facts on the poverty rate in the Netherlands.
10 Facts on the Poverty Rate in the Netherlands
- The public debt of the Netherlands is 61.8 percent of the GDP in 2016. That makes Netherlands 64th on the public debt list comparing to other countries in the world.
- The unemployment rate in the Netherlands in 2016 is about six percent of the population, ranking them 72nd in the world, while the United States ranks 53rd with a rate of 4.7 percent.
- The Netherlands’ unemployment rate dropped from 6.9 percent in 2015 to 6 percent in 2016.
- The Dutch government projects the unemployment rate in the nation will decrease to 4.9 percent in 2017.
- The poverty rate in the Netherlands is 8.8 percent, which means about 1,400,000 people still live below the poverty line.
- The number of children growing up in long-term poverty in the Netherlands is about seven percent, which is about 125,000 people. According to CBS, most of those children live in single-parent families or families that rely on welfare benefits.
- Child poverty is considered to be a big problem in the Netherlands. The government believes actions need to be taken to fight against child poverty and children should be given a greater voice and should be directly involved in policy-making. Local authorities are responsible for considering children’s opinions. However, only five percent of the local authorities actually involve children in the process.
- Due to the financial crisis in 2008, the Netherlands experienced a protracted recession from 2009 to 2013. The unemployment rate doubled to 7.4 percent during the period and household consumption contracted for four consecutive years.
- The wealthiest 10 percent of the population in the Netherlands control about 24.9 percent of the whole country’s wealth. On the other hand, the poorest 10 percent of the population only control 2.3 percent of the country’s wealth.
- The inflation rate is 0.3 percent in 2016, which dropped 0.3 percent from 0.6 percent in 2015. The Netherlands is ranked 44th in the world.
The Netherlands is a wealthy country in Europe, but it also faces many problems such as child poverty. The poverty rate in the Netherlands is relativity low compared to many other countries in the world, but there is always room for improvement.
– Mike Liu