The first signs of a less favorable development in the labor market

The number of available resident job seekers registered with ADEM as of October 31, 2022, was 14,669, an increase of 536 persons (or +3.8%) compared to September.This increase is mainly for people under 30 years old.
However, compared to the month of October 2021, this constitutes a decrease of 748 people or 4.9%. The seasonally adjusted unemployment rate, calculated by STATEC, is 4.9%, identical to last month.

One year apart, the number of job seekers is down for job seekers with a registration period of more than 6 months (-8.6% for registration periods of 7 to 11 months and -19.7% for registrations of 12 months or more).