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The Belgian Government encourages new foreign investment as a means to promote employment. About half of the people aged 55 and over are in employment. Wallonia Flanders Brussels 0 50 100 150 200 250 GDP (€bn) 23.4% 57.0% 19.6% Wallonia Flanders Brussels GDP/capita (€) 23,500 31,700 60,600 Growth of GDP per ca ita 3.00% 3.50% 1.90% Patents per million 62. The unemployment rate is the percent of the labor force that is jobless. Belgium is the world's largest producer of begonias, planting 60 million tubers per year. Inflation below 2% is in green. 58 104.93 71.87 Business investment (€'000/employee) 14.53 19.48 36.77 Unemployment Rat e 11.2% 5.0% 15.9% EU average. However, this EU2020 indicator increased strongly (+1.6 percentage point) compared to the first quarter of 2017. Due to its pristine medieval city centre, Bruges has become a popular tourist destination. Given this high percentage, it seeks to diversify and expand trade opportunities with non-EU countries. More unemployment is the last thing Wallonia needs. Brussels' GDP per capita is much higher t… The national unemployment figures mask considerable differences between Flanders and Wallonia. 69.3% of people aged 20 to 64 are employed; this percentage among people aged 55 and over is just under 50%. Long-term unemployment rate Indicator: 43.5 Total % of unemployed 2019 Belgium % of unemployed: Total % of unemployed 2000-2019 Belgium (red), OECD - Total (black) Total % of unemployed 2019 Belgium (red), OECD - Total (black) Self-employment rate Indicator: 14.2 Total % of employment 2019 Belgium % of employment: Total % of employment 2000-2019 Its unemployment rate of 11 per cent is about double the level in neighbouring Flanders — although it … Brussels' GDP per capita is much higher than either region, although this is in many ways artificial, as many of those that work in the Brussels-Capital Region live in Flanders or Wallonia. The port of Ghent, in the north of the city, is the third largest port of Belgium. However, there were real regional differences within … Positive developments are more pronounced for women than for men: unemployment rate has been lower for women than for men since the third quarter of 2017. The Illinois Department of Employment Security (IDES) announced today that the unemployment rate increased +0.7 percentage point to 7.6 percent, while nonfarm payrolls were nearly unchanged, down -2,500 jobs in December, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. Unemployment in Belgium down by 8.5%. One of the founding members of the European Community, Belgium strongly supports deepening the powers of the present-day European Union to integrate European economies further. The older, traditional industries of Wallonia, particularly steel industry, began to lose their competitive edge during this period, but the general growth of world prosperity masked this deterioration until the 1973 and 1979 oil price shocks and resultant shifts in international demand sent the economy into a period of prolonged recession. It is Europe's largest port for RoRo traffic[26] and natural gas. However, thanks to Belgium's high personal savings rate, the Belgian Government financed the deficit from mainly domestic savings, minimizing the deleterious effects on the overall economy.[18]. Belgian industry claims 19% of the labor force and agriculture only 1%. Today, Wallonia has an unemployment rate of 14 percent, and economists consider unemployment in Wallonia to be structural, making it dif cult for the economy or job market to . Begonias have been cultivated in the Ghent area since 1860. However, Wallonia suffers from lower GDP and staggering productivity. Indeed, Flemish and Walloon economies differ in many respects (consider for instance Eurostats and OECD statistics), and cities like Brussels, Antwerp, Liège, Bruges, Charleroi or Ghent also exhibit significant differences. Their output is counted in Brussels and not where they live, artificially raising the per capita GDP of Brussels and slightly lowering that of Flanders and Wallonia. The Antwerp-based BASF plant is the largest BASF-base outside Germany, and accounts on its own for about 2% of Belgian exports. As a consequence of high wage costs, employers have tended to invest more in capital than in labor. As of July 2012, however, the statistical unemployment rate in Brussels was 20.6%.[24]. Note: Rates shown are a percentage of the labor force. But the capital is largely excluded from the economic arguments between the two sides. In the 1980s and 1990s, the economic center of the country continued to shift northwards to Flanders with investments by multinationals (Automotive industry, Chemical industry) and a growing local Industrial agriculture (textiles, food). Antwerp is the first diamond market in the world, diamond exports account for roughly 1/10 of Belgian exports. Unemployment rate 15 to 64 years old (%), 2017 7.2 5.5 4.4 12.5 Health Life Expectancy at birth (years), 2016 81.5 80.4 82.6 79.8 Age adjusted mortality rate (per 1 000 people), 2016 7.5 8.1 6.9 8.7 Community Perceived social netw ork support (%), 2013 92.5 91.4 94.5 90.2 Safety Homicide Rate (per 100 000 people), 2016 1.5 1.3 1.0 2.2 Life Satisfaction Data refer to … Except for its coal, which is no longer economical to exploit, Belgium has few natural resources other than fertile soils. [18] About three-quarters of its trade is with other EU countries. Unemployment and employment. Liège is also a very important logistic center: the city possesses the third largest river port in Europe, directly connected to Antwerp, Rotterdam and Germany via the Meuse river and the Albert Canal. The ILO unemployment rate in Belgium rose from 4.3% to 5.3% between April and June 2020. Unemployment Rate in Albania averaged 14.82 percent from 1993 until 2020, reaching an all time high of 22.30 percent in the fourth quarter of 1993 and a record low of 11.60 percent in the fourth quarter of 2019. The southern region continues a difficult transition out of sunset industries (mainly coal and steel), while sunrise industries (chemicals, high-tech, and services) dominate in Flanders. Charleroi features an industrial area, iron and steel industry, glassworks, chemicals, and electrical engineering. Belgium imports raw materials and semi-finished goods that are further processed and re-exported. The number of people claiming unemployment benefit in Belgium fell again last year, for the fourth year running. In ancient times, the Sambre and Meuse valley was an important industrial area in the Roman Empire. In the first quarter of 2018, 73.8% of men aged 20 to 64 work against 64.8% of their female counterparts. Tourism is increasingly becoming a major employer in the local area. Eighty percent of the crop is exported.[29]. Although now a shadow of its former self, steel production and the manufacture of steel goods remain important. The economy of Belgium is varied and cannot be understood without taking the regional differences into account. Please do not call our unemployment claims center with questions as call volume remains high. Once you have filed a claim for regular unemployment benefits, return to this page and click, Next Steps to read what happen next. unemployment rate increased slightly, from 6.1% of the labor force in March 2001 to 7.4% in December 2001. The female employment rate increased faster than the male employment rate between the first quarter of 2017 and the first quarter of 2018 (chart 1). The federal government has managed to present balanced budgets in recent years, but public debt remains high, at 99% of 2009 GDP. The federal government ran a 7.1% budget deficit in 1992 at the time of the EU's Treaty of Maastricht, which established conditions for Economic and Monetary Union (EMU) that led to adoption of the common Euro currency on 1 January 2002. In particular, U.S. firms played a leading role in the expansion of light industrial and petrochemical industries in the 1960s and 1970s.[18]. As a consequence of high wage costs, employers have tended to invest more in capital than in labor. This is down 8.5% on the figures at the end of 2016. [18], About 80% of Belgium's trade is with fellow EU member states. In the Middle Ages, Wallonia became a center for brass working and bronze working, with Huy, Dinant and Chimay being important regional centers. The situation has been reversed since the third quarter of 2017 due to the faster decline in the female unemployment rate than in the male unemployment rate (chart 4). There are also significant differences in regional unemployment levels: 2.9 percent in Flanders, against 7.2 percent in Wallonia and 11.8 percent in Brussels. The letter also expresses concerns that the directive allows individuals under the age of 30 to obtain work authorization, citing the Bureau of Labor Statistics in noting that the unemployment rate for young adults aged 16 to 24 has been nearly 17 percent for the past year. Belgium's trade advantages are derived from its central geographic location and a highly skilled, multilingual, and productive work force. There are also significant differences in regional unemployment levels: 4 percent in Flanders, against 9 percent in Wallonia and 13.5 percent in Brussels. If you have exhausted regular unemployment benefits, a Pandemic Emergency Unemployment Compensation (PEUC) claim will be filed for you and up to 13 additional weeks of PEUC benefits will be added to your balance. In 2009 Belgium suffered negative growth and increased unemployment, stemming from the worldwide banking crisis. The Belgian Government reacted to the 1973 and 1979 oil price hikes by hiring the redundant work force into the public sector and subsidizing industries like coal, steel, textiles, glass, and shipbuilding, which had lost their international competitive edge. Belgian per capita GDP ranks among the world's highest. Nonetheless, most traditional industrial sectors are represented in the economy, including steel, textiles, refining, chemicals, food processing, pharmaceuticals, automobiles, electronics, and machinery fabrication. During the subsequent six-and-a-half-year recovery, the unemployment rate kept on rising. Unemployment rate has also evolved positively. Belgium’s economic freedom score is 68.9, making its economy the 48th freest in the 2020 Index. Brussels also has many commuters, with 230,000 coming from Flanders, and 130,000 from Wallonia. Indeed, Flemish and Walloon economies differ in many respects (consider for instance Eurostats and OECD statistics), and cities like Brussels, Antwerp, Liège, Bruges, Charleroi or Ghentalso exhibit significant differences. The industrial complex of Seraing was the largest in the world. Wallonia now suffers from high unemployment and has a significantly lower GDP per capita than Flanders. Unemployment Rate in Albania decreased to 11.60 percent in the third quarter of 2020 from 12.50 percent in the second quarter of 2020. In 2019, the rate of unemployment in Belgium was 5.4 percent – the lowest it had been in a decade. At the end of 2017 there were just over 480,000 people in Belgium that were unemployed. Belgium was the first country to undergo an industrial revolution on the continent of Europe in the early 19th century and has since developed an excellent transportation infrastructure of ports, canals, railways, and highways to integrate its industry with that of its neighbours. Attracted by the EU 1992 single-market program, many foreign firms and lawyers have settled in Brussels since 1989. [31], Media related to Economy of Belgium at Wikimedia Commons, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2020", "People at risk of poverty or social exclusion", "Gini coefficient of equivalised disposable income - EU-SILC survey", "Employment rate by sex, age group 20-64", "Unemployment by sex and age - monthly average", "Euro area and EU27 government deficit both at 0.6% of GDP", "Scope affirms Belgium's rating at AA and revises the Outlook to Negative", https://ec.europa.eu/eurostat/databrowser/view/teina225/default/table?lang=en, https://data.oecd.org/lprdty/gdp-per-hour-worked.htm#indicator-chart, "Le marché du travail en chiffres absolus", "GDP per inhabitant in 2006 ranged from 25% of the EU27 average in Nord-Est in Romania to 336% in Inner London", "Taux de chômage stable (20,6%) mais augmentation du nombre de chercheurs d'emploi sur base annuelle", https://books.google.co.uk/books?id=7dnVBqWvFmQC&pg=PA301&lpg=PA301&dq=Charleroi+slag+heaps&source=bl&ots=qv_vTJIkaj&sig=ACfU3U2B-Ag0dUk8TT6gQXPTEimVu9AwFg&hl=en&sa=X&ved=2ahUKEwi4iLjImd7oAhXSZxUIHaBfBEI4FBDoATACegQIChAB#v=onepage&q=Charleroi%20slag%20heaps&f=false, "Report for Selected Countries and Subjects", World Bank Summary Trade Statistics Belgium, Organisation for Economic Co-operation and Development (OECD), Convention on the Organisation for Economic Co-operation and Development, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Economy_of_Belgium&oldid=1004845232, Articles with dead external links from September 2017, Articles with permanently dead external links, Articles with dead external links from June 2016, Short description is different from Wikidata, Articles containing potentially dated statements from 2006, All articles containing potentially dated statements, Articles with unsourced statements from August 2012, Wikipedia articles incorporating text from the World Factbook, Wikipedia articles incorporating text from the United States Department of State Background Notes, Creative Commons Attribution-ShareAlike License, engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, pharmaceuticals, base metals, textiles, glass, petroleum, chemicals, machinery and equipment, finished diamonds, metals and metal products, foodstuffs, raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products, Officially the Republic of China, participates as ", This page was last edited on 4 February 2021, at 17:55. Compared to the first quarter of 2017, the employment and unemployment rates evolve very favourably. In 1980 the unemployment rate in Wallonia was 14.5 percent. The economy of the region is now diversified, the most important centers are mechanical industries (aircraft engine and Spacecraft propulsion), space technology, information technology, biotechnology and also production of water, beer or chocolate. It is also the main hub and the headquarters of TNT Airways. [28] Tourism is also a major component of the economy of Bruges. It is also host to a great number of European institutions, in addition to the Belgian federal government, the government of the Flemish Community and the government of the French Community. 69.3% of people aged 20 to 64 are employed. Liège Science Park south east of the city, near the University of Liège campus, houses spin-offs and high technology businesses. Compared to the first quarter of last year, unemployment rate decreases by 1.6 percentage point (chart 2): from 7.8% to 6.2%. Using the AAPOR response rate calculator, this translates to a Response Rate 1 of 49 percent. In the 12th and 13th centuries, the iron masters of Liègedeveloped a method of refining iron ore by th… When Belgium emerged from World War II with its industrial infrastructure relatively undamaged thanks to the Galopin doctrine, the stage was set for a period of rapid development, particularly in Flanders. The postwar boom years, enhanced by the establishment of the European Union and NATO headquarters in Brussels, contributed to the rapid expansion of light industry throughout most of Flanders, particularly along a corridor stretching between Brussels and Antwerp, which is the second largest port in Europe after Rotterdam. The employment rate as part of the Europe 2020 Strategy represents the share of persons employed in the population aged 20 to 64. Unemployment rate decreases in the three regions. Unemployment is one of the most critical economic issues facing the country as it balances re-opening with safety months into the pandemic. Charleroi is in the center of a vast coal basin, called Pays Noir. Starting in 1817, John Cockerill extensively developed the iron and steel industry. Many slag heaps still surround the city. [30] Charleroi is also known for its publishing industry with Dupuis, one of the main publishers of Franco-Belgian comics, located in Marcinelle. Generalized map of … Employment rate increases faster for women than for men. Its overall score has increased by 1.6 points, led by an increase in the government integrity score. The vast majority of these people (80%), work in the service sector. The unemployment rate amounts to 6.2% compared to 7.8% in the first quarter of 2017. This disparity began to fade during the interwar period. When an economy begins to improve after a recession, for example, the unemployment rate may continue to worsen for some time. Wallonia is rich in iron and coal, and these resources and related industries have played an important role in its history. The Ghent University, the second largest university of Belgium by number of students, and a number of research oriented companies are situated in the central and southern part of the city. [18] Foreign companies in Belgium account for approximately 11% of the total work force, with the U.S. It peaked at 8.7% of the labor force in April 2006, its highest level over Unemployment rate decreases in the three regions. On 1 May 1998, Belgium became a first-tier member of the European Monetary Union. [18] Industry is concentrated mainly in the populous Flanders in the north, around Brussels and in the two biggest Walloon cities, Liège and Charleroi, along the sillon industriel. In the past, Liège was one of the most important steel-making centres in Europe. With exports equivalent to over two-thirds of GNP, Belgium depends heavily on world trade. [27] It also is the world's largest port for the import and export of new vehicles. This represents a slight decline of 0.3 percentage point compared to the fourth quarter of 2017. [20], For 50 years through World War II, French-speaking Wallonia was a technically advanced, industrial region, with its industry concentrated along the sillon industriel, while Dutch-speaking Flanders was predominantly agricultural with some industry, mainly processing agricultural products and textiles. With an employment rate (15-74 years old) of 92.8% in 2018, Wallonia lies both below the Belgian (94.6%) and EU27 (93.7%) averages. The employment rate has evolved positively in the regions between the first quarter of 2017 and the first quarter of 2018 (chart 3). 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