The Dutch Economy Is Damaged by Underpaying Workers

By: Together Abroad 01-05-2016 2:13 PM
Categories: * Daily employment news,

 



In a study by the Dutch Central Bank (DNB), wage increases were found to be lower than was economically justified last year (2015). According to the Telegraaf, workers’ purchasing power was put under pressure, which is damaging to the Dutch economy.
The labour income ratio, i.e. the share that workers receive as wages from the total earnings in the Netherlands, is very low in relation to business profits. 73.5% of the total earnings consist of wages. Previous calculations for last year came out higher at 78%, and for the previous years between 80% and 90%. The reason is because of systematic overestimation of the remuneration for freelancers and self-employed in traditional calculation methods, according to DNB.

The same newspaper reports that these conclusions seamlessly fit with numerous economists’ calls to increase wages in the Netherlands significantly, which also gives trade unions more room to raise their demands.

Sources:
NLTimes and Telegraaf

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