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Recruitment trends in Luxembourg in 2015

The Luxembourg job market has been dynamic for many years, however, the financial crisis of the late 2000s delayed its progress and caused a rise in unemployment, which now seems to be behind us since the end of the first quarter of 2015.

From May 2010 to May 2015, the workforce grew by more than 30,000 jobs, increasing from 230,000 to more than 260,000 employees. During the period 2010/2013, the annual growth of job creation was slightly below 2%, and since 2014 it is around 2.5%.

The service and information / communication sectors have been the most dynamic in recent months, as well as jobs in computer science, both with more than 17,000 jobs available. In 2014 the government launched the initiative "Digital Lëtzebuerg" in order to eventually strengthen and consolidate the country's position in the field of ICT. Several concrete measures were decided upon, such as attracting start-ups by facilitating their accommodation or funding, or even promoting  the attraction of profiles with technological skills, "e-skills".

Banking (over 25,000 jobs) and insurance (about 20,000 jobs) are obviously still part of the economic pillars of the Grand Duchy and still offer employment prospects in both private banking, which has undergone profound changes in recent years, and in the ever flourishing fund "industry".

Furthermore, intellectual service companies (audit firms, law firms) continue to grow, and this growth trend was confirmed at the start of 2015.

Finally, the workforce in Luxembourg has again been increasing for 18 months and 2015 confirms that this growth is ongoing.

Rémi Fouilloy
Managing Director

Morgan Philips Executive Search & Fyte Luxembourg / Belgium

Sources : Statec et World Economic Forum - Human Capital Index

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