Luxembourg Unemployment Rises to 5.3%; 16k Jobseekers Registered

On Wednesday 20 September 2023, Luxembourg's employment agency ADEM reported that the number of resident jobseekers available for work as of 31 August 2023 stood at 16,056; the unemployment rate rose to 5.3%.

The number of available resident jobseekers registered with ADEM at the end of August 2023 (i.e. 16,056 jobseekers) represented an increase of 1,903 people (+13.4%) over one year. This increase applied to all periods of unemployment, except for people registered with ADEM for more than twelve months. Over one month, the number of jobseekers remained relatively stable (16,111 at the end of July 2023).

The most qualified jobseekers (higher education graduates) as well as young people under 30 experienced the most significant increases. At the level of trades, the most significant increases once again concerned secretarial work and assistance, culinary production and catering services, accounting and management, structural work and finishing work.

The number of new jobseeker registrations was on the rise again: 2,509 residents registered with ADEM in August 2023, an increase of 154 people (+6.5%) compared to August 2022. Among these figures were 90 registrations from beneficiaries of temporary protection (i.e. refugees from Ukraine).

The number of resident jobseekers receiving full unemployment benefit increased by 1,717 people (+24.5%) over one year, to 8,722.

The number of beneficiaries of an employment measure stood at 3,959 and remained below the level observed in August 2022 (a decrease of 101 people or 2.5%).

During the month of August 2023, employers declared 3,164 vacancies to ADEM, which corresponds to a decrease of 21.6% compared to August 2022. ADEM noted that this decline concerned mainly the sectors of information and communication, financial and insurance activities, specialised, scientific and technical activities as well as administrative and support service activities. The total number of available positions stood at 9,088 at the end of August 2023, i.e. a decrease of 32.5% over one year.

The unemployment rate, adjusted for seasonal variations, calculated by STATEC, rose from 5.2% in July to 5.3% in August 2023.