On Wednesday 20 March 2024, Luxembourg's employment agency, ADEM, reported that the number of resident job seekers available for work stood at 18,166 at the end of February 2024; the unemployment rate rose to 5.6%.

The number of available resident jobseekers registered with ADEM stood at 18,166, an increase of 2,516 people (or 16.1%) compared to February 2023. 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 registrations of job seekers is on the rise. 3,307 residents registered with ADEM during February 2024, an increase of 461 people or 16.2% compared to February 2023. Among these figures were registrations from 83 beneficiaries of temporary protection (i.e. refugees from Ukraine).

The number of resident jobseekers benefiting from full unemployment benefits increased by 2,179 people or 26.9% over one year, to stand at 10,272 as of 29 February 2024. The number of beneficiaries of a measure in favour of employment stood at 4,455, an increase of 4.5% compared to February 2023.

During February 2024, employers declared 3,149 vacant positions to ADEM, which corresponds to a decrease of 7.1% compared to February 2023. The total number of positions available at the end of the month stood at 7,727. The decline over one year was 31.4%. This decrease mainly impacted the professions of accounting and management, business consulting, secretarial and assistance, commercial strategy and marketing, IT, transport and logistics, construction and hotels - catering, tourism, leisure and entertainment.

The unemployment rate, adjusted for seasonal variations, as calculated by STATEC, rose from 5.5% in January 2024 to 5.6% in February 2024.