Credit: STATEC
Luxembourg's statistical institute, STATEC, has reported that salaried employment increased by 0.2% in the first quarter of 2024 and by 1.1% over one year.
In its report published on Tuesday 25 June 2024, STATEC noted that growth in salaried employment continues to slow: in the first quarter of 2024, there was a moderate increase of 0.2% compared to the fourth quarter of 2023. Over one year, the increase was only 1.1%, compared to 1.6% in the fourth quarter of 2023.
Financial and insurance activities (+0.5%) as well as administration and other public services (+0.9%) showed the strongest quarterly increases compared to the fourth quarter of 2023. These sectors were also the most dynamic in year-on-year comparison, with the former increasing by 1.9% over one year and the latter by 3.8%.
For financial and insurance activities, this favourable development stems from investment fund and pension management activities. As for administration and other public services, central government services recorded the most favourable growth.
Two sectors of activity (industry and construction) recorded a drop in the number of employees again in the first quarter of 2024. Over one year, the construction sector saw a decrease of 4.7% in the number of employees. The biggest job losses were in residential and non-residential building construction.
In the first quarter of 2024, the change in the number of employees was identical for cross-border workers and residents (+0.2% compared with the fourth quarter). Over one year, the number of employees resident outside the European Union rose by 7.4%, while that of Luxembourg residents increased by 1.7%. STATEC noted that the number of employees resident in the European Union fell by 1.8% in the first quarter of 2024.
