22:45 ECB thinks Ukrainian refugees can ease labor market pressure

The European Central Bank (ECB) expects the European workforce to grow between 300,000 and 1.3 million as a result of the Ukrainian refugee crisis. The ECB wrote on Monday that Ukrainians fleeing the Russian occupation could thus ease tensions in the European labor market.

Not only the Netherlands, but the rest of the eurozone is struggling with a tight (or tight) labor market. This means that there are relatively few unemployed people in relation to the number of available jobs.

The ECB writes that Ukrainian refugees can alleviate this pressure on the labor market. As a result of the refugee crisis, the workforce in the eurozone could grow by 0.2-0.8% in the medium term. This amounts to another 300,000 to 1.3 million people. The ECB emphasizes that this is a ‘coaster calculation’ and therefore a rough estimate.

There are currently about 62,000 Ukrainians registered in the Netherlands, of whom 13,200 (about 20%) are employed. Normally, refugees are only allowed to work after six months, but thanks to an intervention from Brussels, employers do not have to provide extra leadership if they want to hire a Ukrainian. This allows Ukrainian refugees to find work in the Netherlands more quickly.

Source: NU

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