Unemployment rate stable at 4.8%, vacancies drop sharply
Luxembourg's unemployment rate remained largely static at 4.8% in December, the country's job agency Adem said on Friday, as the number of vacancies dropped sharply.
There were 15,760 jobseekers on the books of the job agency on 31 December, Adem said, representing a near 8% rise in new registrations since the end of November - but almost 4% fewer year-on-year. Those aged over 45 were the main driver of the monthly spike in new registrations with Adem in December, the agency said.
The unemployment rate has changed only marginally throughout the past year, never rising above 4.9% or dropping below 4.7%.
There were just under 11,000 open vacancies with Adem on 31 December, down from over 12,000 just a month previously, as the number of openings have fallen sharply after surging to record levels in the summer.
The drop in vacancies is linked to a cooling down in the labour market, with job creation having "clearly entered a slowing down phase", the country's statistics agency Statec said in a report in December. In particular, restaurants and bars, as well as construction firms, have struggled to create new jobs in recent weeks, the report noted.
Almost 90 people who signed up with Adem last month were Ukrainian refugees, the agency said. Just 7% of the Ukrainians who have fled their homeland and registered with Adem have found a job in Luxembourg, a senior official said in August.