Unemployment rate falls to 5.4%.

The number of resident jobseekers registered with ADEM was 15,417 as of 31 October 2021. Compared to September 2021, this is a decrease of 224 people. Compared to October 2020, this is a decrease of 2,554 or 14.7%. The seasonally adjusted unemployment rate calculated by STATEC now stands at 5.4% and has thus returned to the level it had between October 2019 and February 2020.

While unemployment is generally falling, long-term unemployment, i.e. the number of jobseekers registered for at least 12 months, continues to rise. Indeed, more than half (52%) of resident jobseekers are affected by long-term unemployment.

In October 2021, 2,472 residents registered with ADEM, a decrease of 236 people or 8.7% compared to October 2020. Thus, the number of registrations remains relatively low and is around the level seen in 2018.

The number of resident jobseekers receiving full unemployment benefit fell by 1,871 or 19.5% year-on-year to 7,725. The number of beneficiaries of a employment measure stands at 4,468 and is above the level observed in October 2020 (+401 persons, or 9.9%).

The number of vacancies reported to ADEM is very high. In October 2021, employers reported 3,909 vacancies to ADEM, an increase of 33.4% compared to October 2020. This represents a 33.4% increase from October 2020. The momentum of recent months has continued, resulting in 11,076 job openings. The increase over one year is 52.2%.

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