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Luxembourg
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Luxembourg
Luxembourg, with a GDP of $85.8 billion, ranks 72nd globally. It features top industries like banking, financial services, and IT. A slightly above-average unemployment rate of 5.2% suggests moderate labor market challenges. The country hosts a stable number of recruitment agencies, supporting a balanced labor market with gender-equal participation.
Luxembourg'S
AGENCY LANDSCAPE
500
Agencies operating in Luxembourg
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Luxembourg'S
FEATURED AGENCIES
WinMatch
Manpower Group
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Luxembourg'S
GROSS DOMESTIC PRODUCT (GDP) RATING
72
WORLD RANKED
Luxembourg ranks 72nd in the world by current economic output
$86B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
42
EMEA RANKED
Luxembourg is the 42nd biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Luxembourg's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Luxembourg'S
CURRENCY AND CODE
€
Country currency
LUX
Country ISO code
Luxembourg'S
INFLATION RATE
2.5%
CURRENT RATE
▼0.4% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Luxembourg'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Luxembourg'S
LABOUR STATISTICS
645K
POPULATION
With a population of 645,397, Luxembourg is a small sized country by global standards. Luxembourg's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Luxembourg is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Luxembourg's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Luxembourg'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Luxembourg'S
UNEMPLOYMENT RATE
5.2%
CURRENT PERCENTAGE
▲0.6% INCREASE
Luxembourg has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a moderate increase in unemployment, suggesting a negative shift in economic stability with a slight dip in job availability
Luxembourg'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Groupe Cfl
Groupe Cactus
Amazon
Top industries
Banking and financial services
Information technology
Real estate services
Luxembourg'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
67
/
58
Male | Female
In Luxembourg there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Luxembourg'S
WORKING LIFE
$80K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$6.6K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Luxembourg'S
WORKING LIFE
11DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
Luxembourg'S
TOP BENEFITS
20WEEKS
Maternity leave
Maternity: 20wks paid (8wks pre-delivery); 100% pay based on last 3mnths salary, covered by Social Security. Paternity: 10 days paid; first 2 by employer then Social Security. Parental: Up to 6mths based on contract hours, pay from 12mth average.
77DAYS
Sick leave
Employees get unlimited paid sick days, with 100% salary paid by the employer for the first 77 days, extending to the end of the month if needed. Afterwards, Social Security pays 100% up to 5x the minimum social salary.
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