The Luxembourg Business Compass has revealed that Luxembourg business leaders tend to be optimistic about the economy and the Rifkin study.

The report, conducted by KPMG, has shown that Luxembourg leaders view the Rifkin study and economy in general in a positive light. It also found that they felt challenged by the job market and conflicted about qualitative growth in the coming 12 months.

Less than two years since economist Jeremy Rifkin revealed his “Third Industrial Revolution Strategy Study” for Luxembourg industry, it seems its proponents are those with a more comprehensive knowledge of the study and its planned outcomes according to the KPMG survey. 

In relation to the job market in Luxembourg, the report found that it is currently an employee's market with the majority (82%) of business leaders identifying finding qualified staff as a challenge, leaving only 16% who find the process somewhat easy. These figures reflect an increase from last year indicating a worsening problem and rendering Luxembourg an employee's market.

Despite the current challenges presented in terms of staffing, however, business leaders articulated a positive outlook pertaining to the economy in general. When it comes to expectations for the Luxembourg economy in the coming 12 months, the business leaders surveyed remain optimistic with all predicting growth to some extent and no business leaders surveyed anticipating that the economy will contract in the next year.

Although there was a general consensus with regards to the growing state of the economy, there was no such unanimity with regards to defining qualitative growth.