According to the National Institute of Statistics and Economic Studies (STATEC), the rate of job creation in Luxembourg has decelerated.
Salaried employment grew by 0.2% in the first quarter of 2024, marking a year-on-year increase of 1.1%. This growth rate reflects a slowdown compared to the 1.6% growth recorded in the last quarter of 2023.
Notably, the financial and insurance sectors (+1.9% year-on-year) and public service employment (+3.8% year-on-year) saw the most significant increases. Conversely, there was a decline in job numbers within the industrial sector and construction.
In the first quarter of 2024, both cross-border workers and Luxembourg residents experienced an identical 0.2% change in employment compared to the previous quarter. However, annual variations showed a contrasting trend: employment among residents from outside the European Union surged by 7.4%, while Luxembourg residents saw a more modest increase of 1.7%. On the other hand, employment among EU residents declined by -1.8% during the same period.
