Wage gap, intern pay, cargo traffic

Government ministers have encouraged more employers to sign up for a software program that can help close the gender pay gap. The labour minister, Nicolas Schmit, and the equal opportunities minister, Lydia Mutsch, want more firms to use Logib-Lux. The tool gives bosses insight into their current pay structure, which then aids in identifying instances of wage inequality. In Luxembourg today, men out-earn women by 8.6%.
The union representing Luxembourg state civil servants has called for the “immediate abolition” of the current public sector internship pay scheme. Interns earn 80% of a normal civil servant’s salary during the first two years of their internship; that rises to 90% during their third year. Leaders of the General Confederation of the Civil Service (CGFP) said public sector bosses were “using interns as a full-time workforce from day one without the training indicated in the accord” signed between the union and civil service ministry in 2011.
Cargo traffic is up at Findel field. Freight volumes were 286,000 tonnes during the first four months of the year, according to Lux-Airport, the company that manages the airport. That is an increase of 16.4% compared to the same period in 2016.
The energy group Encevo has posted higher earnings. The company, which runs the electric and gas utilities Enovos and Creos, reported Ebitda (net income) of €262.3m last year, a rise of €12.9% over 2015, and net profits of €83.2m last year, up from €80.6m in 2015.
The grand duchy’s funds sector has set a new record. Net assets under management in Luxembourg-based investment funds rose from €3.77trn at the end of January to €3.86trn at the end of February. The latter figure is a rise of 13.7% compared to February 2016.