Luxembourg's labour market, one of the most robust in the world, is getting back on its feet following the health crisis. Although many jobs were at risk during the spring and summer of 2020, over the last few weeks, employers have been recruiting for new positions.
The Fondation Idea revealed in its latest publication that the labour market had seen 8,453 new roles created since May, for the benefit of residents over cross-border workers.
Statec data supports this statement - in July, the number of employed residents exceeded its pre-crisis level (+308 positions occupied), after a sharp drop during confinement (-3,700).
For cross-border commuters, the rebound is somewhat slower: in July, they were still 864 jobs short of February's figures for roles in Luxembourg. The growth in cross-border employment, which is traditionally far higher than resident employment, only exceeded resident growth in the month of July.
The Fondation Idea clarified that compared to pre-crisis levels, 602 jobs had suffered. However, the average growth rate based on 2019 projections should have allowed for 8,000 additional jobs in July, showing the market still has some way to go before attaining normal levels.
