Partial unemployment in Luxembourg has risen
Curated Lifestyle
On 16 December 2024, the Economic Conjecture Committee met under the chairmanship of Georges Mischo, Minister of Labour. Two key issues were on the agenda: an analysis of the current economic situation in the country and the situation on the labour market for November 2024. Detailed reports on these issues can be found on the websites of ADEM, Statec and the Central Bank of Luxembourg.
The Committee reviewed applications for partial unemployment for January 2025. The number of applications submitted remained at the same level as the previous month: 84 businesses applied for support. After careful analysis, 74 applications received a favourable opinion:
- 54 applications are related to economic factors,
- 8 relate to structural changes included in the job retention plan,
- 9 explained by economic dependence,
- 3 were caused by force majeure (accident at the Müden lock in Germany).
The total number of employees affected is 7,126 full-time equivalents (FTEs), 229 fewer than a month earlier. These figures are preliminary and reflect the estimated number of employees who may be affected by the support measures.
To understand the real picture, the committee also analyses the actual number of workers who used the measure. Accurate data are available three months after the preliminary requests. For example, for applications for September 2024, out of 59 approved applications:
- 43 enterprises did take advantage of partial unemployment,
- 4 applications are still pending.
On the final calculations:
- Of the 3,408 employees reported, 1,705 were actually affected, down slightly from the previous month's figure of 1,769.
- In FTE terms, 331 full-time equivalents, up from 362 a month earlier.
The number of hours of partial unemployment reported for September totalled 57,302 hours, which is 5,270 hours less than in August. The costs of these measures for the employment fund totalled EUR 1,214,313, EUR 73,262 more than a month earlier.
The Committee also approved applications for early adjusted pension schemes for 9 employees and proposed a cost-sharing ratio. In addition, one job retention plan was favourably reviewed and approved.
The Economic Conjecture Committee will meet again on 21 January 2025 at 8:30am.
