Salaried Employment Up 2.5% Over 1 Year

In its latest report, Luxembourg's statistical institute, STATEC, confirmed that salaried employment continued to show the same growth as the first quarter of 2023, increasing by 0.5%.

The slowdown in the growth of salaried employment was observed in the first quarter of 2023 and this trend continued into the second quarter of 2023. Over one year, the increase was 2.5% (2.9% in the first quarter of 2023).

Financial and insurance activities (up 0.9%) as well as administration and other public services (up 0.8%) showed the highest quarterly growth compared to the first quarter of 2023. For construction activities, the downward trend previously observed in the first quarter of 2023 continued into the second quarter of 2023 (down 0.5% compared to the first quarter of 2023).

Financial and insurance activities (up 3.8% year-to-year), as well as administration and other public services (up 3.7% year-to-year) were the most dynamic branches in annual comparison. Regarding the former, the favourable development came from investment and pension fund management activities. As for the latter, central government services recorded the most significant growth.

Over one year, the construction sector experienced a slight drop of 0.1% in the number of employees. Residential and non-residential building construction activities recorded the greatest job losses.

In the second quarter of 2023, the number of cross-border employees again rose faster than that of resident employees: there was an increase of 0.6% compared to the first quarter of 2023 for cross-border workers and an increase of 0.4% for residents. French cross-border employees saw the strongest increase: up 0.8% compared to the previous quarter. Over one year, the number of non-EU resident employees increased by 15.0% (up 1.8% for Luxembourg residents). The number of municipality resident employees fell by 0.3% in the second quarter of 2023.