Credit: STATEC

On Monday 20 November 2023, Luxembourg's employment agency, ADEM, reported that there were almost 17,000 resident jobseekers available for work at the end of October 2023; the unemployment rate rose to 5.6%.

The number of available resident jobseekers registered with ADEM stood at 16,927 as of 31 October 2023, an increase of 2,258 people (i.e. 15.4%) compared to October 2022.

The number of jobseekers increased for all unemployment periods. The largest increase in jobseekers was once again recorded among the most qualified jobseekers (i.e. university graduates) as well as young people under 30. Regarding professions, the most significant increases concerned the construction professions, the financial and real estate sector, industry, IT, accounting, and commercial strategy.

The number of new jobseeker registrations was also on the rise: 3,183 residents registered with ADEM during the month of October 2023, an increase of 386 people or 13.8% compared to October 2022. Among these figures were registrations from 92 beneficiaries of temporary protection (i.e. refugees from Ukraine).

The number of resident jobseekers benefiting from full unemployment benefits increased by 1,979 people or 28% over one year, to reach 9,056. The number of beneficiaries of an employment measure stood at 4,226, i.e. the same level as in October 2022.

During the month of October 2023, employers declared 3,089 vacant positions to ADEM, which corresponds to a decrease of 5.9% compared to October 2022. The total number of positions available at the end of the month stood at 8,571, representing a drop of 34.2% over one year. This decrease mainly affected the business consulting, IT and construction professions. 

The unemployment rate, adjusted for seasonal variations, as calculated by STATEC, rose from 5.5% in September 2023 to 5.6% in October 2023.