Credit: STATEC

On Monday 22 April 2024, Luxembourg's employment agency, ADEM, reported that there were 17,654 resident jobseekers available for work at the end of March 2024; the unemployment rate remained stable over one month, at 5.6%.

The number of available resident jobskeers registered with ADEM as of 31 March 2024 stood at 17,654, an increase of 2,322 people (i.e. 15.1%) compared to the previous year.

The number of jobseekers was on the rise for all unemployment periods. The most qualified jobseekers (university graduates) as well as people aged 45 and over have experienced the largest increases.

Regarding professions, the most significant upward variations concern construction professions, industry, the financial and real estate sector, secretarial and assistance, accounting and IT.

The number of new jobseeker registrations also increased: 2,731 residents registered with ADEM during the month of March 2024, an increase of 203 people or 8% compared to March 2023. New registrations for this month include 62 registrations by beneficiaries of temporary protection (i.e. refugees from Ukraine).

The number of resident jobseekers benefiting from full unemployment benefits increased by 1,982 people or 24.5% over one year, to reach 10,073 as of 31 March 2024. The number of beneficiaries of an unemployment measure stood at 4,557, an increase of 6.8% compared to March 2023.

Moreover, in March 2024, employers declared 3,133 vacant positions to ADEM, which corresponds to a drop of 20.4 % compared to March 2023. The total number of vacancies at the end of the month stood at 7,595. This represents a decrease of 26.7% over one year. This drop mainly impacts the professions of accounting and management, business consulting, secretarial and assistance, IT, the financial and real estate sector, construction and the hotel industry - catering, tourism, leisure and entertainment.

The unemployment rate, adjusted for seasonal variations, as calculated by STATEC, stood at 5.6% (unchanged from February 2024).