National accounts, seasonally adjusted data; Credit: STATEC

In its latest report, Luxembourg's statistical institute, STATEC, confirmed that salaried employment continued to grow into the fourth quarter of 2022.

In the fourth quarter of 2022, the salaried employment market increased by 0.8% compared to the third quarter of 2022. Over one year, the increase was 3.3%.  Financial and insurance activities (up 1.1%) showed the highest quarterly growth compared to the third quarter of 2022.

Specialised activities and support services (up 4.5% year-on-year) as well as administration and other public services (also up 4.2% year-on-year) were the most dynamic branches in a year-on-year comparison. Regarding the former, the favourable development came from accounting activities and head office activities. In the case of the latter, central government services recorded the most significant growth.

In the fourth quarter, the number of cross-border workers again rose faster than the number of resident workers: an increase of 0.9% compared to the second quarter for cross-border workers and an increase of 0.7% for residents. French cross-border workers saw the strongest increase, up 1.3% compared to the previous quarter. Over one year, the number of non-EU residents has increased by 17.9% (up 1.8% for Luxembourg residents).