The seasonally adjusted unemployment rate in Luxembourg edged down to 5.3 percent in October 2018 from 5.4 percent in the preceding month. It is the lowest jobless rate since April 2009. The number of unemployed persons fell by 47 to 14,975 and employed people went up by 1,189 to 452,773. Meantime, active population increased by 397 to 280,812. A year earlier, the jobless rate was higher at 5.8 percent. On a yearly basis, unemployed persons fell by 962 to 14,773, with the decline in unemployment being particularly beneficial to job seekers under age 30 (-11.4 percent) and low-skilled job seekers (-7.9 percent). Unemployment Rate in Luxembourg averaged 3.73 percent from 1982 until 2018, reaching an all time high of 7.20 percent in May of 2014 and a record low of 1.40 percent in March of 1991.
Unemployment Rate in Luxembourg is expected to be 5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Luxembourg to stand at 5.00 in 12 months time. In the long-term, the Luxembourg Unemployment Rate is projected to trend around 5.20 percent in 2020, according to our econometric models.