Employment in Monaco’s private sector reached an all-time high in 2024, according to the latest data from IMSEE. The figures highlight Monaco’s strong economic health, particularly in the Scientific and Technical Activities sector, which employs more than a quarter of the private workforce.
Private-sector employment in Monaco continues to strengthen, with 60,454 employees recorded in 2024 by the Principality’s statistical agency, IMSEE. This marks a 3.6% increase on 2023, reflecting steady job growth in almost all sectors.
The Scientific and Technical Activities, Administrative and Support Service sectors were key drivers of this expansion, employing over a quarter of the workforce. However, it is worth noting that half of these positions were in temporary employment.
The Accommodation and Food Service sector also experienced an upswing in 2024, accounting for 14% of the workforce.
The only sector to record a dip in numbers last year was Transport and Storage.
Employees in the private sector are working hard too, clocking an impressive 107.7 million cumulative hours—a rise of 4.6 million hours, or 4.5%, compared to the previous year.
In all, IMSEE reports identify 6,355 employers in Monaco in 2024, including 2,665 who hired domestic staff.
A diverse workforce
Though a distinct gender disparity remains, with 63% of employees being men and 38% women, the Principality’s private sector is increasingly international. The workforce comprises an impressive 145 nationalities. French nationals make up the majority at 61%, followed by Italians (15%) and Portuguese (7%). Monegasques account for approximately 2% of the workforce, equating to just over 1,000 workers.
See more: New report reveals “slow increase” in the number of women running businesses in Monaco
10% of private sector employees live in Monaco, while 22% reside in the French municipalities bordering the Principality. A further 58% commute from the Alpes-Maritimes, and 9% live in Italy. The residency status of the remaining 1% is unaccounted for in the IMSEE report.
The average age of a private sector worker is 42.4 years, with little difference between men (42.5) and women (42.3).
Overall, the figures underscore Monaco’s dynamic economic landscape and its ability to generate employment opportunities across diverse sectors, reinforcing its status as a thriving business hub.
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