The Luxembourg employment market is among the most attractive of the European Union. The proof is that every year, thousands of newcomers come to settle in the Grand Duchy, with the main purpose of working there. Today, foreigners account for nearly 45% of the Luxembourg population; around 70% of the country's workforce consists of immigrant or frontier workers.
Unemployment is relatively low in Luxembourg when compared to other countries in the European Union.
A high minimum social wage
Wages and salaries are indeed attractive. Starting with a high minium wage (salaire social minimum SSM): on 1 January 2017, an unqualified adult could count on a monthly gross income of 1998,59 euros for 40 hours of work per week. A skilled adult received 2.398.30 euros for the same number of hours. With these figures, once again Luxembourg leads the rest of Europe.
The trend is the same as regards the overall level of wages and salaries, although there are significant differences between sectors.
According to the UBS survey Prices and Earnings 2015, the capital of Luxembourg is among the cities with the highest net wages and salaries. Luxembourg is ranked third, behind Zurich and Geneva.