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Job growth soars since Michel Government took office

10:16 01/06/2016

Since the inception of the current federal government under prime minister Charles Michel, employment in Belgium has risen sharply, writes De Tijd according to figures from the National Accounts Institute. Nearly 65,000 jobs have been created since the government was formed in October, 2014, mainly in the private sector.

Belgium has benefited from low oil prices, low interest rates and a cheap euro in the same period, but certain government policies have also stimulated job creation, especially the moderation of labour costs.

Although highly unpopular with the unions, Michel's 'index jump', or temporary blocking of wage indexing, and the freezing of real wages have caused a significant decline in the 'wage handicap' that makes Belgian firms less competitive, according to the prime minister.

The reduction of social charges, part of the tax shift which came into force on 1 April, is expected to further improve competitiveness, writes the newspaper.

Written by Robyn Boyle