June 2, 2023

Taylor Daily Press

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40,000 new jobs thanks to the Flemish Recovery Plan, but mainly in sectors suffering from suffocation | Economy

The Flemish Corona Recovery Plan will create 40,740 jobs by 2030. This is what Idea has calculated on behalf of the Flemish government. This mainly relates to jobs in healthcare and construction, which are two bottleneck sectors. At the same time, researchers warn that traffic jams affect productivity.

In 2020, the Flemish government allocated 4.3 billion euros to help our region overcome the effects of Corona. Of this amount, 825 million euros has been allocated to investments in the labor market.

Job growth as a result of this program is mainly in healthcare and construction, two sectors with many professions in short supply. The researchers therefore warn that a great deal of attention must be paid to training and uptake if Flanders is to be able to fulfill the ambitions of the plan.

As a result of the Flemish resilience, some 6,000 vacancies will be added in the coming years, in addition to the projected annual staffing requirement of 18,813. For construction, this is an additional requirement of 8,151 on top of the already projected demand of 9,043.

“The Flemish Resilience Program thus provides a number of incentives to direct job seekers and talent towards jobs,” says Prime Minister Jan Gambon. These projects should improve a number of structural weaknesses in the labor market, such as increasing the number of people with disabilities and participation in training. That is why 286 million euros are allocated to training and attacking career.”

Flanders still has higher productivity per capita than in the eurozone, but the growth of many productivity indicators has fallen sharply over the past 20 years, Idea notes.

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Transport infrastructure

Flemish flexibility focuses on direct, productivity-enhancing investments. Citizens are the main beneficiaries, including access to training and improved transport infrastructure. An estimated €1.766 million will benefit the nationals. The private sector will receive 1,565 million euros, followed by governments and knowledge centers.

In order to get the optimal impact of investments on productivity, researchers draw attention to shortages in the labor market. This requires additional investments directed at the labor market. In order for leverage to impact private investment, a “clear and stable regulatory framework commensurate with a coherent vision in digitalization, mobility, energy and the circular economy” is needed.

traffic jam

Finally, the researchers also pointed out the importance of smooth navigation. “Traffic jams reduce labor productivity due to long commuting times and cause higher transport costs. Also according to the OECD productivity report, Belgium has a low quality of transport infrastructure, with traffic jams having a high stress on productivity.”

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