On May the 4th (May the force be with you!) Liechtenstein has officially joined the PES Network. We warmly welcome our new colleagues!
With a population of around 40,000 inhabitants, Liechtenstein is one of the smallest countries in Europe and the world.
Some economic key figures:
A third of the population are foreign nationals, mainly from Switzerland, Austria, Germany and Italy. Liechtenstein has a very diverse national economy with a large number of small and medium-sized enterprises. The strong industrial sector (over 40%) and financial services providers particularly contribute to the high value added. At the same time, the contribution of the public sector to the national economy is comparatively small. Liechtenstein adopted the Swiss franc (CHF) as the legal currency of Liechtenstein.
For many years, Liechtenstein’s national economy has experienced an above-average growth in employment. Due to the strong economic growth over the past decades and the small size of the country, an increasing input of labour from neighbouring countries is required. More than half of the persons employed in Liechtenstein do not actually live there.
The total employment is over 40,000. More than 23,000 inward commuters are coming daily to work across the boarder. Almost 59% of the inward commuters are from Switzerland, 39% from Austria and others from Germany.
The labor market in Liechtenstein also showed itself to be resilient during the COVID-19 crisis. The unemployment rate 2020 was 1.9%, youth employment rate at 1.8%.
Due to its small size the public employment service “Arbeitsmarkt Service Liechtenstein” is divided into three clusters.
This includes 8 advisers, 10 employees working on unemployment insurance and 3 for the office management. In addition, the Labor Market Service works continuously with 20 trainers and coaches (freelancers) on labour market measures (seminars and courses).
The PES is working strongly with early intervention strategies:
- initial interview within 24 hours of registering as unemployed
- pro active employer service with recruiting system
- application training (market compliant CV, job interview, training social skills, recording application video)
Further information can be found here
We are looking forward to an interesting cooperation!