The number of employees and hours in temporary work is up significantly in 2023, according to a recent study by the Monegasque Institute of Statistics and Economics Studies (IMSEE).
The 17 temporary employment agencies registered in the Monaco Trade and Industry Register generated 269.9 million euros in turnover in 2023. This result is up a significant 10.5% compared to the previous year.
10 million hours clocked
At the end of 2023, there were 6,878 employees (including 128 permanent employees) working contracts posted by temporary work agencies, representing 11.8% of the total workforce in the private sector. The volume of hours in temporary work reached almost 10 million cumulatively over the twelve months of 2023 (9.5% of total hours worked in the private sector).
Temporary work doubles in July
Temporary workforce activities increased by more than 12% in one year (compared to 5.1% in the private sector overall). The number of hours worked was 7.9% higher than in 2022 in temporary work (and 5.7% in the private sector as a whole).
The volume of hours worked shows the seasonality of temporary employment, when it is twice as high in July (annual peak of activity) as in August. In 2023, the number of hours worked each month was higher than that of the previous year, with a more marked difference over the last quarter.
27% of temporary work lasts only one day
In 2023, single-day missions represented 26.9% of all contracts carried out over the year. Half (49.7%) of temporary assignments in 2023 lasted between 1 and 7 days. Temporary employment is subject to significant seasonality in the Principality. Although the start of the calendar year corresponds to the start of most contracts (more than 6,000 in January 2023), many contracts begin in May and September.
Construction sector offers the most temporary work
More than 48,000 temporary contracts occurred over the year, including 45.4% in construction (mainly in specialized construction work which includes general masonry work and structural building work). Accommodation and catering was the second sector providing temporary 18.4% of temporary contracts.
