In July, the unemployment rate in the grand duchy stood at 5.7%, below the EU average of 6.9% and 7.6% in the euro area. According to , the euro area accounted for a large part of the unemployment figures with about 12 million unemployed persons out of about 14 million in the EU, where the unemployment rates reduced by 420,000 people.

The pace of reduction in unemployment within the EU is also identical to that of the grand duchy where 18,000 people were reported to be unemployed in July, compared with 19,000 the month before, and 20,000 in May.

Also in July, an increase in the number of vacancies by employers who filed 3,481 openings with the employment development agency during the month, which represents an increase of over 20% compared to July the previous year. The rebound in vacancies following the pandemic increased the number of job vacancies above the pre-crisis level, Adem said in its previous report.

Eurostat also notes about 4,000 unemployed persons under 25 years, similar to the rates in June. Also, the gender gap in unemployment reflects its antecedents with 6.1% of unemployed women compared to 5.1% of unemployed men. These rates are below the EU average rate of 7.3% of unemployed women and 6.5% of unemployed men in July.

The impact of unemployment is differently within the member states with the highest numbers recorded in Greece (14.6%) and Spain (14.3%). While the lowest rates were observed in the Netherlands (3.1%) and Malta (3.3%).

Following the ILO’s definition, the report classifies unemployed persons as people “without jobs who have been actively seeking work in the last four weeks and are available to start work within the next two weeks.”