Credit: STATEC
On Thursday 20 June 2024, Luxembourg's employment agency, ADEM, reported that there were 17,470 resident jobseekers available for work at the end of May 2024; the unemployment rate rose slightly over one month, from 5.6% to 5.7%.
The number of available resident jobskeers registered with ADEM as of 31 May 2024 stood at 17,470, an increase of 2,282 people (i.e. 15%) compared to May 2023.
The number of jobseekers was on the rise for all unemployment periods. The most qualified jobseekers (university graduates) as well as people under the age of 30 once again witnessed the largest increases.
Regarding professions, the most significant upward variations concern construction professions, the financial and real estate sector, industry, installation and maintenance, accounting, and IT.
The number of new jobseeker registrations was also on the rise: 2,294 residents registered with ADEM during the month of May 2024, an increase of 58 people or 2.6% compared to May 2023. New registrations for this month include 51 registrations by beneficiaries of temporary protection (i.e. refugees from Ukraine).
The number of resident jobseekers benefiting from full unemployment benefits increased by 2,183 people or 25.5% over one year, to reach 10,130 as of 31 May 2024. The number of beneficiaries of an unemployment measure stood at 4,536, an increase of 7% compared to May 2023.
In May 2024, employers declared 3,489 vacant positions to ADEM - a similar number to May 2023. The total number of vacancies at the end of the month stood at 8,025. This represents a decrease of 17.1% over one year. According to ADEM, this drop mainly impacts the professions of accounting and management, IT, the financial and real estate sector, finishing trades, legal professions, warehousing, handling and moving professions.
The unemployment rate, adjusted for seasonal variations, as calculated by STATEC, stood at 5.7% at the end of May 2024.
