The Luxembourg Economic Committee (Comité de conjoncture) met today to analyse the labour market situation as of December 2019 and the national economic situation.

In January 2020, the number of applications submitted for part-time work increased by two units compared to the previous month. In total, 31 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 27 of these requests. The Cabinet will have the final say on the allocation of this support.

In the companies concerned, it is expected that 2,268 out of a total of 7,272 employees are working on a reduced schedule. Expenditure charged to the Employment Fund for the month of Febrary 2020 is €3,116,290 if all the companies concerned take full advantage of the short-time work schemes granted.

In addition, the Economic Committee approved one request for tax exemption of voluntary redundancy benefits, concerning a total of fourteen eligible persons.

The next Economic Committee meeting is scheduled for Wednesday 26 February 2020.