The Monaco Statistical Institute (Imsee) has released its annual employment report for the year 2024, highlighting key trends and statistics as of December 31. The Principality of Monaco recorded a total of 78,364 jobs, consisting of 70,825 employees across both public and private sectors, along with 7,539 self-employed individuals.

This marks an overall increase of 4.8% year-on-year and a notable 30.7% growth since 2015, with an average annual growth rate of 2.9% over the past decade.

The private sector constitutes 92.6% of total employee numbers and continues to expand at a faster pace than the public sector.

The Grand Activity Sector, encompassing 'scientific and technical activities, administrative and support services,' accounts for 25.6% of positions, bolstered notably by a 13.5% rise in temporary work agencies.

Other significant sectors include accommodation and food services (14.4%), construction (10.9%), and personal services (10.9%).

The representation of women in the salaried workforce is on a declining trend, now at 37.9%, down from 38.3% the previous year and from 40.7% in 2015. This trend is particularly pronounced within temporary employment, where women constituted one in five temporary workers a decade ago but only 12.4% today.

Simultaneously, the average age of private sector employees has risen from 41.3 years to 42.4 years, largely due to an increase in workers over the age of 55.

Additionally, there have been structural changes in the residential location of employees, with over 80% now living outside Monaco.

Notably, the majority reside in France, particularly in Nice (27.6%) and Menton (12.4%), followed by Monaco itself (10.1%).

The proportion of commuters has increased since 2017, with French nationals making up 60.6% of the workforce, followed by Italians (15.4%) and Portuguese (7.1%).

The Romanian community, meanwhile, has seen significant growth, multiplying fivefold over the past decade.

The number of Monégasque nationals employed is stable at 1,014, but their relative share of the workforce has decreased from 2.1% in 2015 to 1.7% in 2024. Monégasques are predominantly found in the accommodation and food services sector, where women represent 37.5% of the workforce.

Temporary employment has experienced robust growth, with nearly 7,800 workers recorded, showing an almost doubling in the last ten years, of which 87.6% are men.

Conversely, domestic employment, comprising around 2,750 individuals (a majority of women), includes a diverse range of roles such as housekeepers, drivers, accountants, nurses, and seafarers.

The predominant nationalities in this sector are French, Portuguese, Italian, and Filipino.

Concerning remote work, approximately 6,800 individuals were engaged in telecommuting by the end of 2024, reflecting a 19% annual increase, following a 27.9% rise the previous year.

A majority of remote workers (70%) reside outside the neighboring municipalities, while 18% live in those areas, 10% in Monaco, and 2% in Italy.

The number of employers has remained stable at 6,355, with 42% being household employers, and the largest employers are found in administration, health, accommodation and food services, and construction.

The public sector comprises 5,226 agents, an increase of 1.4%, with three-quarters assigned to government administration, particularly in public safety and education.

In 2024, 470 new recruits were hired, with 77% being French nationals and 15.5% Monégasque.

Over the last decade, the public sector workforce has grown by 17.4%, with women representing 44% of this employment category.

The proportion of Monégasques in the public sector has declined from 30.1% to 24.1%, while the share of French nationals has risen from 64.1% to 70.3%, contributing to the increase in commuting workers in the public sector.

Non-salaried workers have also increased to 6,092, representing a 2.4% rise from the previous year, with concentrations in specialized services such as design, photography, and translation, followed by the wholesale trade.

The paramedical and architecture-engineering sectors have displayed the strongest growth.

Overall, the activity of self-employed individuals has surged by 40% over the past decade.

Although men form the majority at 70.7% of this demographic, certain sectors such as hairdressing, beauty services, education, and personal services show a predominance of women.

While the number of Monégasque self-employed individuals has increased, their relative share has decreased from 17.2% in 2015 to 13.8% in 2024, with French nationals now constituting nearly one-third of this population.

The Imsee also notes that the recorded number of jobs may slightly exceed the number of active individuals as some hold multiple positions, particularly in domestic employment or self-employed roles.