Unemployment Rate Drops to 4.6%, Declared Vacancies Reach All Time High

According to ADEM, Luxembourg's employment agency, the number of resident jobseekers available for work as of 31 May 2022 stood at 13,946; over one year, this represents a decrease of 3,394 people, or 19.6%.

The unemployment rate, adjusted for seasonal variations, calculated by STATEC, continued to drop, to 4.6% (down from 4.7% at the end of April 2022).

Figures were down for all categories of jobseekers, with the exception of those who had been registered with ADEM for less than four months, which were up by 6%.

The number of new registrations was on the rise again: a total of 2,140 residents registered with ADEM during the month of May 2022, an increase of 259 people or 13.8% compared to May 2021. New registrations last month included 205 registrations from beneficiaries of temporary protection (i.e. refugees from Ukraine). 

The number of resident jobseekers receiving full unemployment benefit fell by 2,148 or 23.7% over one year, to 6,925. 

The number of resident jobseekers assigned to an employment measure stood at 4,531 and was slightly below the level observed in May 2021 (a decrease of 31 people or 0.7%). 

During the month of May 2022, employers declared 4,812 vacancies to ADEM, which corresponds to an increase of 21.5% over one year. The total number of positions available at the end of May 2022 stood at 13,253 – a new all time high. The increase over one year was 49.5%.