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Revenues in the Dutch staffing market are expected to fall by -3% in the third quarter of the year, the Netherlands-based bank ABN AMRO reported on Tuesday. Looking at both the figures provided by the national staffing association ABU and the country’s statistics office, analysts said the staffing market has seen two quarters of contraction, preceding seven quarters of revenue growth.
This follows mixed reports by ABU which recently said the staffing market in the country declined -1.3% in the second quarter, compared to official state figures reporting a small increase in revenue growth.
Staffing Industry Analysts does not expect the Dutch staffing market to grow in 2012, but see a -5% decline this year, the latest growth forecast on European staffing markets found.
ABN AMRO said that the macroeconomic environment in the Netherlands remains challenging. Not only the European debt crisis is to blame, but also slowing economic growth in China and the US. Consumer confidence is also low and the bank said that rising unemployment and a decline in job vacancies are not providing a “healthy picture for the staffing industry.”
The industry sector remains one of the largest buyers of temporary workers, with a share of approximately 20% – but the outlook for the industry is still “unfavourable”, the bank said. “It is too early to talk about a recovery,” analysts concluded.