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The 2011 social balance sheet


  • Ph. Delhez

    (National Bank of Belgium, Research Department)

  • P. Heuse

    (National Bank of Belgium, Research Department)

  • H. Zimmer

    (National Bank of Belgium, Research Department)


In a context of slowing economic growth in 2011, growth in employment in the companies that filled a social balance sheet in 2010 and 2011 fell from an annual average of 1.5 % to 1 % by the end of the year. The health and social work branch made the biggest contribution to this trend, followed by business services and industry. The number of full-time workers rose by 0.9 % and the number of part-time workers by 1.3 %, with a portion of the former opting for reduced working time arrangements during the course of the year. Flanders had the strongest increase in employment, at 1.3 % ; the number of workers rose by 1 % in Wallonia, but was stable in Brussels. Growth in the workforce was above average at companies operating in only one region, and was negative in firms present in multiple regions. At companies which submit full-format accounts, the number of agency workers increased much more significantly than the number of workers recorded in the staff register, reaching 3.6 % of total employment. The finance and insurance branch, which represents close to 6 % of the workforce covered by social balance sheets, was the subject of a more detailed analysis based on the full 2010 results. Most staff in this branch are employees, and 98 % of workers have a permanent contract. The proportion of high-skilled workers is much bigger than in other activities. The rate of part-time work is below average, even though it has increased substantially, along with the rising proportion of female staff. The extent of staff turnover is more limited than in other branches of activity and, among firms submitting full-format accounts, the replacement rate for permanent workers is lower. The hourly costs related to full-time personnel, on the other hand, are the highest, whereas the amount of time worked annually by these workers is below average.

Suggested Citation

  • Ph. Delhez & P. Heuse & H. Zimmer, 2012. "The 2011 social balance sheet," Economic Review, National Bank of Belgium, issue iii, pages 101-133, December.
  • Handle: RePEc:nbb:ecrart:y:2012:m:december:i:iii:p:101-133

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    More about this item


    employment; finance and insurance; banks; social balance sheet; staff costs; training; employment contract; full-time; part-time; temporary worker;

    JEL classification:

    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions
    • M53 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Training
    • M55 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Contracting Devices


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