Unemployment back to pre-pandemic level
Luxembourg's economy continues to bounce back from the pandemic slump as the country's unemployment rate in October was back at the level registered in February 2020, before the health crisis put thousands out of work, job agency ADEM said on Monday.
More than 15,000 people were looking for work at the end of October - 14.7% fewer than the same month the year before, ADEM said in a press release. The unemployment rate stood at 5.4% in October - the same as in February 2020 - compared to 7% in June 2020, according to ADEM.
Just under 15,500 people were registered as looking for working with ADEM last month, a decrease of more than 2,500 compared to October 2020. However, more than half of those seeking a job in the Grad Duchy had been doing so for longer than a year, ADEM also said.
A strong labour market also led to a drop of almost 20% in the number of resident job seekers who receive full unemployment benefits compared to October last year.
The number of available jobs remains "very high", ADEM said, with employers posting 3,900 job openings with the agency in October, a 33% increase year-on-year. Overall, ADEM is currently seeking to fill over 11,000 vacancies, almost 4,000 more than at the same point last year.