Employment: Job postings in Luxembourg rose by double digits last quarter, driven by finance sector tech investment and an increase in administrative support roles in the funds space.
The number of “help wanted” adverts in the Grand Duchy rose by 10% during the fourth quarter of last year, compared to the last quarter of 2013, largely driven by rising demand from financial firms making technology investments and strength in the funds industry, a recruitment consultancy has said.
“IT job advertisements increased 25% year-on-year, driven largely by a boost from the financial services sector, with banks finally having resources available again to invest in or implement new IT systems,” according to the Robert Walters “European Job Index”, a twice-yearly study of job postings that was released on Tuesday. However, many of those IT project positions were for temporary engagements.
“The consolidated demand for legal, tax and treasury roles increased 6% in the quarter,” recruitment firm stated. “Furthermore, as a result of positive momentum in the funds industry, secretarial and support roles saw an increase of 9% quarter-on-quarter and nearly doubled year-on-year, showing businesses are looking to expand again.”
Elsewhere in the finance sector, job postings slumped. That meant that overall “advertising of banking and financial services roles declined 8%, as many banks outsource back office functions,” the consultancy said.
Robert Walters reckoned the number of new jobs would grow this year in the Grand Duchy, partially driven by a European Commission programme announced late last year.
Bastiaan Fontein, the firm’s Luxembourg country manager, said in a statement: “We expect that Jean-Claude Juncker’s investment plan to boost the European economy will have an enormous impact on the workforce of the European Investment Bank, based in Luxembourg, which in turn will drive demand for analysts and economists.”