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.
Almost 20,000 residents were looking for a job at the end of February. This was the latest "peak" in the unemployment curve, which has been tending towards pre-crisis "normality" since last summer. On 30 June, 16,402 people were looking for employment in Luxembourg, i.e. 938 fewer people 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) reported that it decreased from 5.8% in May to 5.7% in June. In June 2019, the rate was at 5.4%.
© Source: Statec
Considered over a span of one year, and this figure illustrates the "Covid-19 effect" on employment, this is a decrease of 3,474 people or 17.5%. In June 2020, the labour market was still heavily impacted by the health crisis and the consequences of the first lockdown, with an annual increase of 32.2% in job seekers.
Almost 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 substantial use of short-time work.
Currently, 8,368 resident jobseekers are receiving full unemployment benefits. This is 1,868 less than a year ago (-18.2%).
As of 30 June 2021, ADEM had 9,735 available jobs in its databank. This is an increase of 47.8% over a one-year period. STATEC stressed that indicators on job offers are "once again reaching, or even exceeding, the levels before the health crisis".
During the month of June, employers declared 3,961 vacancies to ADEM, which corresponds to an increase of 31.6% compared to June 2020.