There is a severe lack of qualified applicants in 24 distinct career categories, including banking, auditing, engineering, and education, in Luxembourg.
This occurs in spite of the rising jobless rate.
Employers can now hire non-EU workers faster thanks to the report’s emphasis on these job profiles on its official shortage list.
Prior popular roles
Credit and risk analysts, front desk employees, and customer management personnel in the banking industry were among the most in-demand job titles and responsibilities in 2023. Other occupations that were in high demand included roofers, engineers, carers, nurses, psychologists, educators, auditors, and accountants.
If a job profile was considered in high demand, it was defined as one where less than 10% to 25% of job offers went unfulfilled and seven vacancies were posted with Adem each month on average over the course of a year.
According to Adem, there was a significant need for IT professionals last year; however, foreign IT professionals felt left out of the employment market since they didn’t speak French.
Background Due in large part to the high cost of living in the nation, especially its pricey housing, Luxembourg has long had difficulty luring in highly skilled workers.
Adem’s data runs counter to the nation’s increasing trend of unemployment, with 5.6% of workers unemployed in February despite fewer job searchers than in January.
The construction industry was particularly affected by the economy’s uncommon recession in 2023, which also caused growth in Luxembourg’s labour market to slow down, as reported by Statec, the country’s statistics office.
In the construction sector, employment decreased by 0.9% between 2022 and 2023, after growing by 2.7% between 2021 and 2022. This was in contrast to the 3.4% gain in employment that occurred in 2022.
According to Luxembourg, there are 7000 jobs available in 10 industries for both foreign and local people.
Since the end of January, there have been almost 7,000 job openings for local and foreign talent across ten industries, according to the National Employment Agency
According to Nairametrics, the majority of these jobs are in industries where there is a discernible dearth of candidates from the local or international labour pool. According to ADEM’s report, only 5% of these openings are for temporary positions; the majority, over 90%, are for permanent roles.
expanding labour market
Luxembourg is coming out of a two-year era in which there were a lot of job opportunities and workers had an advantage.
Luxembourg’s labour market is expanding at an unparalleled rate despite the country’s high cost of living; as of January 2024, records show that there were over 271,000 resident employees and over 229,000 cross-border workers.
Luxembourg is looking for measures to enhance the standard of living for its workforce in response to these developments. One step in that direction has been the recent reduction of taxes for citizens and foreign workers, which helps ease concerns related to income.
Employed in Luxembourg
Luxembourg is a tiny European country that sets itself apart very well.
According to a previous Nairametrics research, the nation has had the lowest unemployment rate in Europe and the highest minimum salary for the previous 40 years. In addition, about half of the population is comprised of immigrants. For instance, of the 525,000 people living in Luxembourg, almost 43% are foreigners.
One benefit is that, under certain restrictions, the nation provides work permits for citizens of Third World countries:
In order to obtain a work permit, highly qualified professionals from Third World countries need to:
Employed in Luxembourg
Luxembourg is a tiny European country that sets itself apart very well.
According to a previous Nairametrics research, the nation has had the lowest unemployment rate in Europe and the highest minimum salary for the previous 40 years. In addition, about half of the population is comprised of immigrants. For instance, of the 525,000 people living in Luxembourg, almost 43% are foreigners.
One benefit is that, under certain restrictions, the nation provides work permits for citizens of Third World countries:
In order to obtain a work permit, highly qualified professionals from Third World countries need to:
Give a highly qualified candidate a contract for work that lasts a year or longer.
Provide documentation of the high level of expertise required for the position or industry described in the employment contract, or show that you meet the requirements for the regulated profession mentioned in the contract.
Accept a compensation offer that is at least 1.5 times the average gross annual income or, for positions in professions where the government has determined that there is a specific need for third-country nationals, at least 1.2 times the average gross annual salary in Luxembourg.
Make sure the employer creates an employment agreement, which may include a condition saying that work permit must be obtained before employment can begin.
Has also highlighted the top 10 industries in Luxembourg that are in need of workers at the moment, and they are as follows:
Systems for information and communications
Management and accounting
Services for secretaries and assistants
food production
Following Construction
Moving, handling loads, and warehousing
Service sector (tourist, leisure, hotel catering)
Pre-design and design (building)
Commercial cleaning