The Luxembourg Economic Committee ("Comité de conjoncture") met on Wednesday to analyse the labour market situation as of July 2019 and the national economic situation.

In August 2019, the number of applications submitted for part-time work stagnated compared with the previous month. In total, nineteen companies applied for partial unemployment benefits in order to benefit from the provisions of this measure in the next month.

After analysing the applications submitted, the Economic Committee approved eighteen of the nineteen requests. The Cabinet will then have the final say on the allocation of this support.

In the companies concerned, it is expected that 1,468 out of a total of 9,244 employees are working on a reduced schedule. The expenditure chargeable to the Employment Fund for the month of September 2019 is €1,827,000 if all the companies concerned take full advantage of the short-time work schemes granted.

In addition, the Economic Committee approved two applications for tax exemption of voluntary redundancy benefits, pursuant to Article 115 (10) L.I.R. This request concerns nineteen people. The Committee approved a further two applications related to the legal provisions on early retirement.

The next Economic Committee meeting is scheduled for Wednesday 25 September 2019.