Economic Committee Meeting of 24 July 2018. L-R: Nicolas Schmit, Minister of Labour, Employment and Social and Solidarity Economy; Francine Closener, Secretary of State for the Economy; Credit: MECO

The Luxembourg Economic Committee has approved the requests of eleven companies for temporary financial support from the government. 

Chaired jointly by the Secretary of State for the Economy Francine Closener and the Minister of Labour, Employment and Social Economy and Solidarity Nicolas Schmit, the Economic Committee today analysed the Luxembourg labour market situation as of June 2018 as well as the national economic situation.

For the month of August 2018, the number of applications submitted for part-time work stagnated compared to the previous month. A total of 13 companies applied for partial unemployment benefits in order to benefit from the provisions of this measure in the next month. After analysing the submitted files, the Economic Committee approved 11 requests, the final decision of the allocation of this support to companies temporarily facing a difficult economic situation falling to the Governing Cabinet.

In the companies concerned, it is expected that out of a total workforce of 1,183 people, 602 employees work on a reduced schedule. The expenditure chargeable to the Employment Fund for the month of August 2018 is €787,800 in the event that all the companies concerned take full advantage of the short-time work schemes granted.

In addition, as part of the Digital Skills Bridge pilot project, two companies introduced a job retention plan to enable some of their employees to acquire the skills required to respond to the digital transformation. The purpose of the two subsidy applications submitted was to support companies in the face of training, supervision and salary costs in order to provide the employees concerned with a professional reorientation within the company. The Economic Committee approved both requests. In the companies concerned, 110 employees out of a total workforce of 1,052 people will work predictably at reduced hours to attend their training courses. Expenditure charged to the Employment Fund for the month of August 2018 is €1,960,902 if those concerned take full advantage of the scheme.

The next meeting of the Economic Committee is scheduled for Wednesday 29 August 2018.