Employment
The social security system, which expanded rapidly during the prosperous 1950s and 1960s, includes a medical system, unemployment insurance coverage, child allowances, invalid benefits, and other benefits and pensions. With the onset of a recession in the 1970s, this system became an increasing burden on the economy and accounted for much of the government budget deficits. The national unemployment figures mask considerable differences between Flanders and Wallonia. Unemployment in Wallonia is mainly structural, while in Flanders it is cyclical. Flanders' unemployment levels are generally only about half those of Wallonia. 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.
Belgium's unemployment rate was 6.5% in 2008. A total of 4.99 million people make up Belgium's labor force. The majority of these people (73%) work in the service sector. Belgian industry claims 25% of the labor force and agriculture only 2%. As in other industrialized nations, pension and other social entitlement programs have become a major concern as the baby boom generation approaches retirement.
Read more about this topic: Economy Of Belgium
Famous quotes containing the word employment:
“As long as learning is connected with earning, as long as certain jobs can only be reached through exams, so long must we take this examination system seriously. If another ladder to employment was contrived, much so-called education would disappear, and no one would be a penny the stupider.”
—E.M. (Edward Morgan)
“Not only our future economic soundness but the very soundness of our democratic institutions depends on the determination of our government to give employment to idle men.”
—Franklin D. Roosevelt (1882–1945)
“The boatmen appeared to lead an easy and contented life, and we thought that we should prefer their employment ourselves to many professions which are much more sought after. They suggested how few circumstances are necessary to the well-being and serenity of man, how indifferent all employments are, and that any may seem noble and poetic to the eyes of men, if pursued with sufficient buoyancy and freedom.”
—Henry David Thoreau (1817–1862)