Economy: Both employment and unemployment numbers rose again slightly in July, in line with a long-term trend in Luxembourg.
The seasonally adjusted unemployment rate was 6.2% as of July 31, according to government statistics released on Thursday.
That figure is up from the 6.1% figure registered at the end of June and from the 5.8% rate seen at the end of July 2011, national employment agency ADEM said. It also is an increase over the number recorded in July 2010 (5.8%), July 2009 (5.6%) and July 2008 (4.1%).
At the same time, the total number of people working in the Grand Duchy has never been higher, according to data from national statistics agency STATEC. There were 355,025 people working in Luxembourg in July, up from 354,053 in June and 347,895 in July 2011. That number has steadily increased each month since October 2009, when there were 332,254 jobs in the Grand Duchy. The figures even continued to climb throughout 2008, despite the onset of the economic crisis.
In an interview with Delano last year, Pierre Gramegna, the chief of the Chamber of Commerce, observed that Luxembourg is one of the “very few countries in the world where unemployment goes up when there’s a net creation of jobs.” The comments came in the context of a call for reform the country’s educational system. “If the qualifications of people don’t match the needs of the economy, in the long term we will have huge problems,” he said.
Indeed, there were more than 2,900 open job postings at the employment bureau, including 2,037 new positions registered with ADEM during the month of July.