Luxembourg Unemployment Rises to 5.5%; Almost 17k Jobseekers Registered

On Friday 20 October 2023, Luxembourg's employment agency ADEM reported that the number of resident jobseekers available for work as of the end of September 2023 stood at 16,565; the unemployment rate rose to 5.5%.

The number of available resident jobseekers registered with ADEM stood at 16,565 at the end of September 2023, an increase of 2,432 people (+17.2%) over one year.

This number of jobseekers is increasing for all periods of vacancy. 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 concerned secretarial work and assistance, culinary production and catering services, accounting and management, structural work and finishing work.

The number of new registrations of jobseekers is on the rise. A total of 3,141 residents registered with ADEM during the month of September 2023, an increase of 189 people (+6.4%) compared to September 2022.  Among these figures were 67 registrations from beneficiaries of temporary protection (i.e. refugees from Ukraine).

The number of resident jobseekers benefiting from full unemployment benefit increased by 1,765 people (+25.2%) over one year, to stand at 8,764. The number of beneficiaries of an employment measure stood at 3,949 and was below the level observed in September 2022 (a decrease of 184 people, or 4.5%).

During the month of September 2023, employers declared 3,109 vacant positions to ADEM, which corresponded to a drop of 14.4% compared to September 2022. This decline in the number of declared positions concerned mainly the industrial sectors, manufacturing, information and communication, financial and insurance activities, specialised, scientific and technical activities as well as administrative and support services activities. Temporary agencies were included in the latter sector, among others. The number of available positions stood at 8,966 as of 30 September 2023, i.e. a decrease of 32.7% over one year.

The unemployment rate, adjusted for seasonal variations, calculated by STATEC, rose from 5.3% in August to 5.5% in September 2023.