In this article, we concentrate on the sensitivity of the labour market to financial crises in Luxembourg. Luxembourg is a global financial centre specialising in banking, investment funds and insurance. This specialisation partly conditions the labour market in Luxembourg. Specialisation in financial activities requires a highly qualified workforce. Luxembourg is a small country that suffers from labour shortages and needs migrant workers. Against this background, we will show that cross-border workers are at greater risk of losing their jobs than native workers.
