The unemployment rate continues to fall in Luxembourg and is gradually reaching pre-Covid-19 levels, while job vacancies are already above pre-pandemic levels.
Nearly 20,000 residents were looking for work at the end of February. This is the last “peak” of the unemployment curve, which has been trending towards pre-crisis “normality” since last summer. On June 30, 16,402 people were looking for a job in Luxembourg, or 938 people less compared to the previous month.
Slowly but surely, the unemployment rate is thus approaching pre-Covid-19 levels. On Tuesday, the National Institute of Statistics and Economic Studies (STATEC) said it fell from 5.8% in May to 5.7% in June. In June 2019, the rate was 5.4%.
Considered over a period of one year, and this figure illustrates the “Covid-19 effect” on employment, it is a decrease of 3,474 people or 17.5%. In June 2020, the labor market was still strongly impacted by the health crisis and the consequences of the first confinement, with an annual increase of 32.2% of job seekers.
Nearly 10,000 jobs available
In June 2021, 1,969 residents registered with the National Employment Agency (ADEM), an increase of 72 people compared to June 2020. The number of registrations was relatively low due to the high use of unemployment partiel.
Currently, 8,368 resident job seekers receive full unemployment benefits. This is 1,868 less than a year ago (-18.2%).
As of June 30, 2021, ADEM had 9,735 jobs available in its database. This is an increase of 47.8% over a period of one year. STATEC underlined that the indicators on job vacancies “are reaching again, or even exceeding, the levels before the health crisis”.
During the month of June, employers declared 3,961 vacant positions to ADEM, which corresponds to an increase of 31.6% compared to June 2020.