Unemployment Remains at 4.9%

According to the Agence pour le développement de l'emploi (ADEM), Luxembourg's Employment Development Agency, the unemployment rate in the Grand Duchy at the end of November 2022, calculated by STATEC and adjusted for seasonal variations, is 4.9%, identical to the previous month.

The number of available resident jobseekers registered with ADEM amounted to 14,622 at 30 November 2022, down 610 people (i.e. – 4.0%) compared to November 2021.

One year apart, the number of job seekers is down for job seekers who have been registered for more than six months (-1.7% for registration periods of 7 to 11 months and -20.2% for durations of 12 months and more).

Nevertheless, the number of new registrations is on the rise again. A total of 2,614 residents registered with ADEM during the month of November 2022, an increase of 354 people or 15.7% compared to November 2021 (new registrations for this month include 92 registrations of beneficiaries of temporary protection, i.e. refugees from Ukraine).

The number of resident job seekers receiving full unemployment benefit fell by 290 people or 3.8% over one year, to 7,325. The number of beneficiaries of an employment measure stood at 4,259 and is below the level observed in November 2021 (-161 people, or 3.6%).

During the month of November 2022, employers declared 3,276 vacant positions to ADEM, which corresponds to a drop of 7.1% compared to November 2021. The number of available positions stood at 12,226 as of 30 November 2022. The increase over one year is 17.0%.