Unemployment rate rises to 5% and the number of job vacancies falls back below the 10,000 mark

The number of available resident jobseekers registered with ADEM stood at 15,188 on 31 May 2023, an increase of 1,242 people (or 8.9%) compared with May 2022. This number of jobseekers is up for all registration durations except for people whose registration period is longer than 12 months.

The seasonally adjusted unemployment rate calculated by STATEC was 5.0%, higher than the previous month (4.9%).

The number of new jobseeker registrations rose. A total of 2,227 residents registered with ADEM in May 2023, an increase of 87 people or 4.1% compared to May 2022. It should be noted that this month's new registrations include 64 registrations of beneficiaries of temporary protection (refugees from Ukraine).

The number of resident jobseekers receiving full unemployment benefit rose by 1,148 or 16.6% year-on-year to 8,073. The number of beneficiaries of an employment measure stood at 4,241, below the level observed in May 2022 (-290 people, or -6.4%).

During the month of May 2023, employers declared 3,528 vacancies to ADEM, which corresponds to a decrease of 26.7% compared to May 2022. This fall in the number of vacancies reported concerns all sectors of activity, with the exception of manufacturing, trade, transport, storage and education.

The number of jobs available stood at 9,686 on 31 May 2023. This represents a year-on-year decline of 26.9%.

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