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RTL Today – Economy: Unemployment hits 4.9%, its lowest rate in 13 years
In a statement released on Monday, the National Employment Agency (ADEM) said the number of unemployed is falling in all sectors, resulting in the lowest national rate recorded for more than a decade.
The number of residents seeking employment through ADEM as of January 31, 2022 was 15,470. This represents a decrease of 4,412 people, or 22.2%, compared to the previous year.
The National Institute of Statistics and Economic Studies (STATEC) thus assesses the national unemployment rate at 4.9%. In December, it was still 5.2%.
2009 was the last time that the unemployment rate in Luxembourg was so low. At the time, the rate was recorded at the start of the year, just before the repercussions of the global financial crisis hit the country’s economy.
Although unemployment rates are generally falling, the biggest problem remains long-term unemployment. Many people registered with ADEM have been looking for a job for more than twelve months. With 49.3%, they represent almost half of their job seekers.
Although there was a brief spike in new job applications in January, the rate remains relatively low, the ADEM press release notes. 2,359 people filed a new application, a decrease of 12.6% compared to January 2021.
More employers were also recruiting last month: 4,083 jobs were listed with ADEM, an increase of 46.2% compared to January 2021.
