Luxembourg's Economic Committee has granted provisional requests for short-time work (partial unemployment) for 8,542 employees for October 2023.
The Economic Committee met on Tuesday 26 September 2023, under the chairmanship of Luxembourg's Minister of Labour, Employment and the Social and Solidarity Economy, Georges Engel. The committee first analysed the labour market situation for August 2023 and the national economic situation, before studying the requests submitted for partial unemployment for October 2023.
There were thirteen more requests submitted for partial unemployment compared to the previous month. A total of 101 companies submitted a provisional request for partial unemployment in order to benefit from the provisions of this measure in October 2023.
After analysing the applications submitted, the Economic Committee approved 87 requests. Of these requests, 62 came from a cyclical source, sixteen were linked to a structural source (i.e. a job retention plan) and nine were motivated by economic dependence.
The approved (provisional) requests for October 2023 concern 8,542 full-time employees (down from 9,872 in September 2023).
Luxembourg's Ministry of the Economy recalled that these figures are indicative and concern the forecast number of impacted employees, but do not represent a concrete indicator of the economic situation. As such, the Economic Committee also provides information (possible three months later) on the number of employees who actually benefited from the measure.
For example, out of the 81 approved provisional requests for June 2023, the measure was deployed in 42 cases, of which two are still being analysed (thus bringing the number of settled cases to 40).
In total, partial unemployment concerned 2,553 full-time employees (out of the forecast 8,378) in June 2023, compared to 2,668 in May 2023.
The cost for the Employment Fund for June 2023 amounted to €2,600,500, compared to €2,280,000 for May 2023.
The next Economic Committee meeting will take place on Tuesday 24 October 2023.
