Luxembourg Jobless Rate Rises to 3-1/2-Year High 📉
The unemployment rate in Luxembourg rose to 5.9% in November 2024, the highest since May 2021, with a 6.8% increase in registered jobseekers, particularly among long-term unemployed, those over 30, and highly educated workers.
The rise in Luxembourg's unemployment rate, particularly among long-term unemployed and highly educated workers, suggests a weakening labor market. This could have a moderate negative impact on the portfolio, as it may affect the performance of investments in European and global markets, as well as sectors like technology and consumer discretionary that are sensitive to employment trends.