Employment in Monaco:
A slight decline in 2025 but at a historically high level

At the end of 2025, Monaco’s private-sector job market showed a slight contraction, while remaining at historically high levels. With nearly 65,000 jobs recorded (829 fewer than in December 2024) the decline stands at -1.3%. Despite this decline, this is the second-highest level ever recorded in the Principality.

A moderate decline following a sharper drop in the third quarter

This decline is, however, less pronounced than the one recorded in the third quarter of 2025 (-2.5%), suggesting that the pace of decline slowed toward the end of the year. The private-sector job market is thus showing some resilience amid a mixe

The hardest-hit sectors

The decline is particularly pronounced in administrative and support services, which recorded the sharpest drop at -10.7%, representing a loss of 1,458 jobs year-over-year. This decrease is mainly due to the sharp decline in temporary workers, down 14.8% (-1,477 jobs) .

This decline in temporary staffing directly impacts the construction sector, which is heavily reliant on this workforce. Excluding temporary workers, this sector saw a 5.2% decline, representing 360 job losses, confirming a negative trend that began in the second half of 2025.

Industrial, manufacturing, and craft activities are also down (-7.5%, or -207 jobs), partly due to a corporate reorganization linked to a transfer of operations to the specialized activities sector.

Growing Sectors

Despite this context, several sectors are performing well.

The accommodation and food services sector continues its positive momentum with a 3.3% increase, representing 301 additional jobs over the past year. This sector posted the largest increase in terms of job growth.

Arts, sports, and recreational activities are also seeing strong growth of +7.2% (+186 jobs), driven in particular by the expansion of events and sports activities.

At the same time, specialized, scientific, and technical activities are up +5.3% (+240 jobs), largely due to the transfer of activities between companies.

An overall decline in hours worked

The total number of hours worked in the private sector reached 105.7 million hours in 2025, a 1.9% decrease compared to 2024.

Only December showed a slight improvement, which was insufficient to offset the shortfall accumulated earlier in the year.

Temporary work again records the sharpest decline (-23.8%), while certain sectors show notable growth:

• Real estate activities: +5.1%
• Accommodation and food services: +4%
• Domestic employment: +4%