Netherlands posts biggest decline in unemployment in 10 years

THE HAGUE - The Netherlands recorded the biggest decline in its unemployment in 10 years in 2016, official data revealed on Thursday.

According to the Dutch Central Bureau of Statistics (CBS), the Dutch unemployment stood at 5.4 per cent in December of 2016, 1.2 percentage points lower than that in December of 2015.

Ten years ago, in 2006, it was the last time the CBS measured a decline of this magnitude.

In December 2016, 5.4 percent of the Dutch labor force, or 482,000 people, was unemployed.

The unemployment rate was still higher than before the financial crisis. In August 2008, the unemployment rate was only 3.6 percent.

The unemployment peaked at 7.9 percent in February of 2014.