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Luxembourg's unemployment below EU average in July

Luxembourg's unemployment below EU average in July

by Kate OGLESBY 01.09.2021
The Grand Duchy had 18,000 people seeking work in July, Eurostat says
Part of Luxembourg's financial district in Kirchberg
Part of Luxembourg's financial district in Kirchberg
Photo credit: Anouk Antony

Luxembourg's rebounding economy still had a 5.7% unemployment rate in July, well off the best mark in the European Union but below the average across the 27-country bloc, the EU's Luxembourg-based statistics bureau said on Wednesday.

The 18,000 people lacking jobs  in the Grand Duchy was down from 22,000 during July 2020, a hopeful time between Covid-19 surges during the spring and fall of 2020, Eurostat reported. The EU average unemployment rate was 6.9%.

Joblessness in Greece and Spain was 14.6% and 14.3% respectively. The Netherlands had the lowest rate at 3.1%.

Luxembourg's labour market is recovering from the pandemic with fewer people looking for jobs and employers listing more vacancies than a year ago,  Luxembourg’s job agency ADEM said last month. Just over 16,000 Luxembourg residents were looking for employment at the end of July - a 15% drop compared to the year before, Adem stated.

Employers were also recruiting more people last month, listing over 3,400 jobs - a 22.2% jump compared to July 2020. The top three categories of jobs listed were in research and IT, accounting and secretarial work, Adem said.

The Grand Duchy also saw the EU's second-lowest decline in working hours last year, Eurostat said in July. Luxembourg tied with Finland and Denmark in seeing a 4% decline in hours worked, while employees in the Netherlands saw a 3% fall.

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