Economy & Politics

Millennials, the main victims of the crisis

With a quarter of its young people under 30 currently unable to find a job, Luxembourg is one of the poorest European students. Only Greece and Spain show less favorable figures. Explanation of a phenomenon with significant potential consequences.

With a quarter of its young people under 30 currently unable to find a job, Luxembourg is one of the poorest European students. Only Greece and Spain show less favorable figures. Explanation of a phenomenon with significant potential consequences.

(JFC, with Marlene Brey) – Currently, 26.9% Luxembourg residents aged under 30 looking for a job in vain. With the coronavirus crisis, the number of job seekers in this age category in June 2020 increased by 51.9% compared to the same month last year. Overall this time, this number has increased by 32% across all generations in the same time frame. The recession has not only inflated economic unemployment, but it has also created a feeling of fear for the future among those under 30.

“At Adem, it is clearly the traffic jam”, declares Christine witte, specialized in the “Youth” department of the employment agency. “In normal times, there is a kind of turnover: about 70% of new registrants in one year leave the following year, a job in hand.” But today, according to the advisor, if there are “no more new registrants than usual, on the other hand they are much less likely to find a job”. In other words, if the covid crisis did not lead to a wave of layoffs, it melted the supply of available jobs.

The main characteristic of this “traffic jam” is that it particularly strikes the younger generation. Because, while the number of vacant positions on the Luxembourg labor market fell by 16.5% in June compared to the same month last year, the number of apprenticeship contracts fell by .. . more than half: where 2,000 of these positions were listed in 2019, there are currently only 959.

Thus, where the University of Luxembourg receives on average between 60 and 80 job offers per month, only half have arrived in recent months. For Christine Witte, given the uncertain future, employers are for the moment more busy “trying to keep their staff” than worrying about “hiring an apprentice”.

According to the latest data of the Organization for Economic Co-operation and Development (OECD), Luxembourg has the third highest unemployment rate for under-30s in the European Union. Only Greece and Spain, two countries still strongly marked by the last economic and financial crisis, show higher figures.

Finding a rational explanation for this inglorious podium turns out to be difficult, insofar as Adem itself does not publish the unemployment rate among the under-30s, but only delivers the absolute figure, in this case 4,398 currently registered. The employment agency explains it by “methodological difficulties”, because in particular many young people under 25 continue their studies and thus disappear from the radars of Adem. But for Ariane Toepfer, active in the Coaching Center “Youth and Work”, this fact is “shocking, because the figures cannot then be the subject of a public discussion”.


According to data released Thursday by Eurostat, the average unemployment rate in the EU for the month of May shows a slight increase of 0.1% compared to the previous month, to 6.7%. Unlike its Belgian and German neighbors, the Grand Duchy is sailing above this average.


The average age of people who turn to “Youth and Work” is 23 years old. 56% have Luxembourg nationality. Few are those who are willing to mention it, but their situation is often precarious. 61% of young people participating in the program say they lack career guidance, 59% have dropped out of school or are long-term unemployed. The coronavirus crisis has not helped anything, only on the contrary, for these young people most often without professional experience, without a graduation diploma, and with little knowledge of labor law.


Tags

Related Articles

Back to top button
Close
Close