Economic Committee Analyses National Economic Situation

The Luxembourg Economic Committee met today to discuss the national economic and labour market situation.

Chaired by the Minister of Labour, Employment and Social and Solidarity Economy, Nicolas Schmit, the Economic Committee analysed the labour market situation of December 2017 as well as the national economic situation.

For the month of February 2018, the number of applications submitted to the committee increased by 4 units compared to the previous month. A total of 9 companies have applied for partial unemployment benefits to benefit from the provisions of this measure in the next month. After analysing the submitted files, the Economic Committee accepted 8 requests.

In the companies concerned, it is expected that out of a total workforce of 844 people, 457 employees work on a reduced schedule. The expenditure chargeable to the Employment Fund for the month of February 2018 is €616,000 in case all the companies concerned take full advantage of the short-time work schemes granted.

The Economic Committee also issued positive opinions in relation to 3 applications for tax exemption of voluntary redundancy benefits pursuant to Article 115 (10) L.I.R. concerning the eligibility of 45 persons in the companies concerned.

In addition, the Economic Committee issued a positive opinion in relation to the legal provisions on early retirement-adjustment concerning 20 employees. The Committee has proposed to the applicant company a rate of participation in the cost of early retirement.

The next meeting is scheduled for Tuesday 20 February 2018.