Since October 2016, the number of job-seekers has fallen from 16,819 to 15,813. That puts the unemployment rate at 5.8%, the lowest it has been in the past six year. According to the ADEM, the figure corresponds to a reduction of 6% in the space of one year.
Young job-seekers benefit the most
The reduction has been most favourable for job-seekers under the age of 30 (-10.5%) and those with few qualifications (-10%). The number of long-term unemployed has dropped by 8.8%. On the other hand, the number of job-seekers with a post-secondary education has increased by 2.9% in the past year.
According to the latest figures from the ADEM, the number of people benefiting from an employment-related measure has remained more or less stable, while the number of job-seekers undergoing training has risen considerably (+142), partly due to the launch of new training courses in catering and cleaning.
The employment market is booming
At the end of October 2017 the ADEM had 2,930 vacancies on its books - 12.3% more than at the same time last year. It's not only the number of vacancies that has increased. Total employment in the Grand Duchy has grown by 3.2% in the past year, increasing from 425,240 to 439,060 units.
(article written by the editorial team of the portal luxembourg.lu)