69.3% of people aged 20 to 64 are employed. Wallonia now suffers from high unemployment and has a significantly lower GDP per capita than Flanders. Data refer to … The unemployment rate amounts to 6.2% compared to 7.8% in the first quarter of 2017.  Since then, it gradually improved as businesses have attempted to reopen safely, … Unemployment rate decreases in the three regions. The number of people claiming unemployment benefit in Belgium fell again last year, for the fourth year running. In Wallonia, employment rose slightly in April and May, before falling to 62.7% in June. 2.84% WALLONIA VACANCY RATE. 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. [18] About three-quarters of its trade is with other EU countries. 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. In 2009 Belgium suffered negative growth and increased unemployment, stemming from the worldwide banking crisis. Walloon women have been working outside the home since the Industrial Revolution, though they still earn less than men since they are concentrated in low-paying industries such as textiles and clothing and are not proportionately represented in upper management. Given this high percentage, it seeks to diversify and expand trade opportunities with non-EU countries. With regional devolution, Flanders, Brussels, and Wallonia are now courting potential foreign investors and offer a host of incentives and benefits. Belgium's public debt is about 98% of GDP. Map showing the Walloon and Flanders regions. Charleroi is in the center of a vast coal basin, called Pays Noir. Liège Science Park south east of the city, near the University of Liège campus, houses spin-offs and high technology businesses. 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. It is Europe's largest port for RoRo traffic[26] and natural gas. Charleroi features an industrial area, iron and steel industry, glassworks, chemicals, and electrical engineering. The unemployment rate is a lagging indicator. However, Wallonia suffers from lower GDP and staggering productivity. [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. The employment rate has evolved positively in the regions between the first quarter of 2017 and the first quarter of 2018 (chart 3). Brussels also has many commuters, with 230,000 coming from Flanders, and 130,000 from Wallonia. But the capital is largely excluded from the economic arguments between the two sides. Figure 6.2 Languages of Europe. Being the de facto European capital, its economy is massively service-oriented. Unemployment in Belgium down by 8.5%. Belgium began circulating the euro currency in January 2002. This is down 8.5% on the figures at the end of 2016. Using the AAPOR response rate calculator, this translates to a Response Rate 1 of 49 percent. Belgium imports raw materials and semi-finished goods that are further processed and re-exported. In the first quarter of 2018, 73.8% of men aged 20 to 64 work against 64.8% of their female counterparts. Unemployment rate decreases in the three regions. Chart 5: Unemployment rate … 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. Division of Labor. It has a number of regional headquarters of multinational corporations. Inflation below 2% is in green. Although unemployment rate is evolving positively in all three regions, large differences remain: in Flanders 3.6% of the labour force is unemployed, compared to 8.9% in Wallonia and 13.3% in Brussels (chart 6). More unemployment is the last thing Wallonia needs. According to the 2019 Labour Force Survey, the unemployment rate in Flanders is 3.3%, compared with 6.9% in Wallonia (Statbel 2019b). 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. Chart 4: Unemployment rate of people aged 15-64 according to sex. Eighty percent of the crop is exported.[29]. About half of the people aged 55 and over are in employment. [citation needed]. However, there were real regional differences within … The port of Bruges-Zeebrugge is one of the most important, modern and fastest growing[25] ports in Europe. [18] A slight decrease in the accumulated public debt compared to GDP has been seen, however, thanks to a higher economic growth rate compared to the budget growth rate, which pushed the percentage from 99% of GDP in 2009 to 95% of GDP in 2011, a four-point decrease in two years, a feat rare enough to mention in the Western World. In the first quarter of 2018, 49.6% of people aged 55 and over were employed, compared to 46.2% a year earlier. 3.2. As a result, cumulative government debt reached 121% of GDP by the end of the 1980s. In 1980 the unemployment rate in Wallonia was 14.5 percent. The Belgian authorities are, as a rule, anti-protectionist and try to maintain a hospitable and open trade and investment climate. The unemployment rate according to the definitions of the International Labour Office amounted to 6.2% in the first quarter of 2018 (see definitions under ‘Metadata’). In general, productivity in Flanders is roughly 20% higher (per inhabitant) than in Wallonia. There are also significant differences in regional unemployment levels: 4 percent in Flanders, against 9 percent in Wallonia and 13.5 percent in Brussels. In May 1990, the government linked the Belgian franc to the Deutsche Mark, primarily through closely tracking German interest rates. With exports equivalent to over two-thirds of GNP, Belgium depends heavily on world trade. In Flanders, unemployment remains low, at 2.9%, whereas in Brussels and Wallonia, the … A total of 4.99 million people make up Belgium's labor force. In the first quarter of 2018, the employment rate of people aged 20 to 64 amounts to 61.5% in Brussels, 73.9% in Flanders and 63.6% in Wallonia. 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 port of Antwerp was in 2004 the second largest European sea port by cargo volume, and the Antwerp freight railway station accounts for one-third of Belgian freight traffic. Its unemployment rate of 11 per cent is about double the level in neighbouring Flanders — although it … A new passenger terminal was opened in 2005. Tourism is increasingly becoming a major employer in the local area. 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