As was the case for most other economies in the eurozone, the Dutch economy was severely hit by the corona crisis. Yet, it is also clear that, likely due to its high degree of digitalization and the nature of its knowledge-intensive economic activities, the setback was substantially smaller than for some other economies with a sectoral structure more focused on direct interpersonal interaction, such as tourism. Also, the rather flexible labor market has been conducive in mitigating the economic downfall. Even in the midst of the crisis, unemployment hardly increased compared with the 2019 level, while there was still substantial turnover in the job market. Adding to this the massive government support, the shrinkage of the economy was in fact smaller than at the height of the global financial crisis in 2009. According to CPB (2021b), the decline of GDP in 2020 would have been 0.6 percentage point larger and unemployment would have been 65–180 thousand employees higher had no business support been given.