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Written by Jérémy Zabatta Share The monthly average over 12 months of 108 bankruptcies is similar to pre-pandemic levels. (Photo: Romain Gamba/Maison Moderne) All the indicators suggest that Luxembourg is experiencing a V-shaped economic recovery, even if some remain caution remains as the pandemic continues. Several theories have been debated regarding the shape of the economic recovery as the grand duchy eremrges from the covid-19 pandemic. But it seems as though the recovery is likely to be V shaped. 1,765 applications for short-time work were approved in July, a drop of 52% compared to June. This represents the lowest rate since the introduction of this mechanism at the beginning of the health crisis. At present, a total of 17,144 full-time employees remain on the scheme, compared to 27,030 the previous month.

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