In February 2024, the number of jobseekers registered with the national jobs agency Adem stood at 18,166, marking an increase of 16.1% compared with February 2023, equivalent to an extra 2,516 people. This rise affects all lengths of vacancy, with increases among highly skilled jobseekers, including higher education graduates and young people under 30, who “are experiencing the largest increases”.
The Adem pointed out that “the most significant upward variations concern construction trades, the financial and real estate sector, industry, information technology, accounting and sales strategy,” illustrating the challenges facing these sectors in the current economic climate.
The seasonally adjusted unemployment rate calculated by the statistics bureau Statec was 5.6% (5.5% in January 2024), indicating continued pressure on the Luxembourg labour market. This situation is corroborated by the number of new registrations with Adem, which totalled 3,307 residents for the month of February 2024, recording an increase of 16.2% compared with the same period the previous year. Of these new registrations, “83 registrations are of beneficiaries of temporary protection (refugees from Ukraine),” the press release said, demonstrating the impact of international crises on the local labour market.
As at 29 February 2024, the total number of resident jobseekers receiving full unemployment benefits had risen by 26.9%, or 2,179 more people, to 10,272. At the same time, the number of people benefiting from employment support schemes rose slightly by 4.5% compared with the previous year, reaching a total of 4,455 beneficiaries in February 2023.
The 26.9% increase in the number of resident jobseekers receiving full unemployment benefit, to 10,272 people, demonstrates the difficulties in finding a job. There was also a 7.1% fall in the number of vacancies reported to Adem, with a total of 7,727 vacancies available at the end of the month, bringing the year-on-year decline to 31.4%.
The data for March 2024 will be published on 22 April.
This article was first published in French on . It has been translated and edited for Delano.