Monaco 2024: Private-Sector Employment Soars, Driven by Services, Hospitality and Construction
2024 was a particularly dynamic year for the labour market in Monaco. According to data published by IMSEE (Monaco Statistics and Economic Studies Institute), private-sector employment rose by 3.6% in one year, reaching 60,454 jobs at the end of 2024.
This increase reflects a genuine upturn in activity driven by several sectors, in particular administrative and support services, hospitality and catering and building and construction.
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The drivers of growth: administrative services & construction
Scientific, technical, administrative and support services
The sector known as “scientific and technical activities, administrative and support services” (consulting, engineering, temporary work, administrative services, etc.) is one of the main contributors to job growth. On its own, it has seen its private-sector payroll grow significantly, with temporary work playing a decisive role.
In the last quarter of 2024, this segment recorded an increase of 13.5%, i.e. around 2,164 additional jobs compared with the end of 2023.
This rise is partly explained by strong demand for support services, temporary employment agencies, cleaning, maintenance and administrative assistance — services that are often needed in a fast-growing economy.
Building & construction, a solid pillar
The construction sector remains a key player in Monaco's employment. Property development and major construction and development projects help maintain sustained demand for labour.
Even if growth there is sometimes more moderate than in services, construction remains one of the main private employers.
A labour market in transformation
In 2024, the total number of jobs (private + public) in the Principality reached 78,364. Of these, 83.7% are salaried jobs in the private sector.
Over the decade, overall employment in Monaco has increased by around 30.7% since 2015, despite difficult periods such as the health crisis.
The rise of temporary work marks a turning point: temporary employment accounts for an increasingly large share of private-sector employment in Monaco, particularly in services and construction.
