On Wednesday 20 December 2023, Luxembourg’s Agency for Employment Development (ADEM) published details of employment and unemployment statistics. It was revealed that there are currently 17,439 resident job-seekers, representing an unemployment rate of 5.7% at the end of November 2023, up slightly from 5.6% at the end of October.

The number of available resident job-seekers registered with ADEM shows an increase of 2,817 people or 19.3% compared to November 2022. Job seekers with higher education and young people under 30 experienced the largest increases.

The most substantial increases in unemployment were seen in the sectors of construction, communication, media and multimedia, the financial and real estate sector, industry, IT, accounting and commercial strategy.

New registrations of job seekers are on the rise, with a total of 2,810 residents registering with ADEM during November 2023, an upsurge of 7.3% compared to November 2022. Meanwhile, the number of resident job seekers receiving full unemployment benefits also increased, reaching 9,463.

However, the number of vacancies has seen a decrease, with employers reporting 2,553 vacant positions to ADEM in November 2023, a drop of 22% compared to November 2022. The total number of positions available stood at 7,338 at the end of November 2023, a decline of 40% from over a year ago.