Labor market is tight but Randstad still sees a decline in temporary workers

Labor market is tight but Randstad still sees a decline in temporary workers

Despite the still tight labor market, significantly fewer temporary workers worked at Randstad in the last quarter. The number of employees in the temporary employment group in the Netherlands has fallen from 63,000 to 51,000 according to today’s quarterly figures. That’s almost 20 percent.

The decline occurs mainly in sectors where there was a large demand for workers last year, shortly after the Corona crisis. “We see this especially in the transport and logistics sector, but also in e-commerce,” says Jeroen Tiel, CEO of Randstad Group Netherlands. “But we are also seeing a very significant decline in IT services and financial services.”

The situation of the Netherlands is no exception. Overall, Randstad’s revenue fell on an annual basis for the third quarter in a row. While around 650,000 people worldwide were temporarily employed through Randstad this time last year, this figure has now risen to just under 600,000.

There are a record number of vacancies

What is striking, according to Randstad, is that the number of vacancies is increasing. Tiel talks about the record number. “The number of vacancies is increasing, but this does not mean that employment is increasing. “It still takes a lot of effort for BV Nederland to find the right people at the right time.”

The group’s sales fell 8 percent to over 6 billion euros in the last quarter. Net profit was approximately a fifth lower at 190 million euros. The company had yet to see any improvements in October.

Source: NOS