Brussels, Belgium – The number of job vacancies in Belgium fell to its lowest level in two and a half years at the end of 2024, marking a significant decline in employment opportunities, particularly for permanent positions.
Belgian companies posted 171,946 job openings in the fourth quarter of 2024, a drop of nearly 5,000 vacancies or 2.7% compared to the previous quarter, according to figures released on Tuesday by Belgium’s national statistics agency, Statbel.
The job vacancy rate—the ratio of job openings to total positions in a company—also declined from 4.21% in the third quarter to 4.12% in the fourth quarter. “The average job vacancy rate for 2024 is therefore 4.27%,” said Statbel spokesperson Wendy Schelfaut.
This downward trend could suggest that Belgian companies are finding it easier to fill positions. However, experts caution that a decline in vacancies can also signal an economic slowdown, leading to increased competition among job seekers and potentially higher unemployment rates.
Lowest Vacancy Levels Since Mid-2022
The latest figures mark the lowest vacancy level recorded since the second quarter of 2022. At that time, the number of permanent positions available was nearing 185,000, while temporary jobs exceeded 29,000. Both categories have since seen reductions.
Despite the overall decline, the majority of vacancies (87.41%) remain for permanent jobs. However, the vacancy rate for temporary jobs (18.71%) is significantly higher than that for permanent jobs (3.70%), suggesting a continuing demand for short-term employment opportunities.
Regional and Sectoral Disparities
The decline in vacancies was observed across all three of Belgium’s regions. Flanders, which accounts for nearly 66% of all job openings in the country, saw the largest drop, losing 3,193 vacancies. In Wallonia, vacancies declined by 728, while the Brussels-Capital Region recorded 697 fewer openings.
Despite these declines, Flanders continues to have the highest vacancy rate at 4.55%, followed by Wallonia at 3.50% and Brussels at 3.43%.
Sector-wise, the steepest declines were recorded in ‘real estate operations and trade’ and ‘information and communication’. Conversely, the ‘other services’ sector experienced an increase in vacancies. The highest vacancy rate remains in the construction sector (6.83%), while the non-profit sector has the lowest (2.84%).
Company Size and Hiring Trends
Large and medium-sized companies account for the majority of job openings, posting 4.33 times more vacancies than small businesses. However, smaller enterprises continue to experience a higher vacancy rate (6.42%) compared to larger firms (3.80%), highlighting hiring challenges faced by smaller employers.
With job openings on a downward trajectory, economic analysts warn that further declines could reflect a cooling labor market. If the trend continues, it may impact workforce dynamics, wage growth, and overall economic stability in Belgium.
As companies adjust their hiring strategies in response to economic conditions, job seekers may face increased competition, particularly in regions and sectors most affected by the slowdown. Policymakers and business leaders will be closely monitoring labor market trends in the coming months to assess their long-term implications.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
