Luxembourg’s unemployment rate remained steady at 5.9% in December 2024, but the unadjusted rate rose to 6.2%, the highest level since April 2021, according to data from the national employment agency Adem. The increase disproportionately impacted jobseekers registered for seven months or more, individuals over the age of 30, and highly qualified candidates with higher education degrees, Adem in a press statement on Monday 20 January 2025. Professionally, the largest increases were observed in road transport, accounting, culinary production, IT and banking.

A total of 2,328 resident jobseekers registered with Adem in December 2024, increasing the total count to 19,532. This marks the highest figure since February 2021 and a 7.3% year-on-year increase.

The number of residents receiving full unemployment benefits rose significantly, reaching 11,746 by 31 December 2024. This represents an annual increase of 1,926 individuals, or 19.6%, and marks the highest figure on record. Meanwhile, the number of people benefiting from employment measures remained stable at 4,111.

In December, 2,385 job vacancies were reported to Adem, reflecting a 7.3% decrease compared to December 2023. The total number of available positions fell below 6,000 for the first time since 2018, reaching 5,935 by the end of the month. This marks a 15.2% decline in job vacancies year-on-year. It is likely that the number of job openings is a bit higher, as employers can neglect to submit all open positions to the agency.

According to Adem, the drop in both newly declared positions and the month-end figure was particularly evident in accounting and secondary building trades.