The Economic Committee today held a meeting chaired by Secretary of State for the Economy, Francine Closener, to analyse the situation of the labour market in June 2015 and the national economic situation.

Findings showed that for the month of June 2015, the number of applications decreased by 3 units. A total of 9 companies reportedly introduced a grant request for partial unemployment in order to benefit from the provisions of this measure during the month of August 2015.

After an analysis of the submitted files, the Economic Committee granted the nine requests of temporary support to companies facing a difficult financial situation. With regards to the businesses involved, 679 employees out of a total 1,181 are working reduced hours.

For the month of August 2015, the expenditure of the Employment Fund was €800,000 if all the companies took full advantage of the partial unemployment schemes granted.

"Building on a more favourable international environment, the current economic momentum is felt," stated Secretary of State for the Economy, Francine Closener. "With only nine cases submitted to the Economic Committee, the number of companies making a request to benefit from the various partial unemployment schemes has dropped to its lowest level since the beginning of the economic and financial crisis in October 2008."

The meeting followed the news yesterday that the unemployment rate for Luxembourg at the end of last month has remained steady at 6.9% compared to May 2015 and is down 3.1% with regards to figures twelve months ago.

The Economic Committee also reached a positive agreement with regards to the legal regulations on early retirement. The Committee proposed to the company applicant to undertake a participation rate at the cost of early retirement.

The Committee additionally issued two positive opinions in relation to requests for tax exemption in voluntary severance indemnities in conjunction with Section 115 (10) ITA regarding the eligibility of the twenty people in the companies concerned.

The date of the next Economic Committee meeting was fixed for 26 August 2015.

 

Photo by STATEC