The Luxembourg Economic Committee ("Comité de conjuncture") today met to analyse the labour market and national economic situation as of early 2019.
Chaired by Dan Kersch, Minister of Labour, Employment and the Social and Solidarity Economy, the Economic Committee discussed the impact of the new Social Inclusion Income Act (REVIS), in force since 1 January 2019, on the number of job-seekers registered with the employment agency ADEM. The ADEM assumes a new role within the framework of this law, by profiling the new beneficiaries of REVIS.
For the month of March 2019, the number of applications submitted for part-time work increased by three units compared with the previous month. In total, 13 companies have applied for partial unemployment benefits in order to benefit from the provisions of this measure in the next month. After analysing the applications submitted, the Economic Committee approved 11 such requests, the final decision of the allocation of this support remaining the responsibility of the governing cabinet.
In the companies concerned, it is expected that out of a total workforce of 1,795 people, 828 employees work on a reduced schedule. The expenditure chargeable to the Employment Fund for the month of March 2019 is €980,500 if all the companies concerned take full advantage of the short-time work schemes granted.
In addition, the Economic Committee approved two applications for tax exemption for voluntary redundancy benefits, pursuant to section 115 (10) L.I.R. These requests concern 42 people. Finally, the Committee responded positively in relation to the legal provisions regarding early retirement-adjustment for one employee. It proposed a participation rate for the cost of early retirement to the applicant company.
The next Economic Committee meeting is scheduled for Wednesday 27 March 2019.
