I've lived in Monaco for 9 years and worked here for 10.
While the unemployment rate in Monaco is officially 0, it can be difficult for non-Europeans to find work.
As stated previously, all jobs must be posted with the government employment office. Priority for these positions is first given to Monegasque citizens (6,000 citizens living in Monaco), second priority is given to Monaco residents (30,000 residents most of whom aren't looking for work), third to EU citizens, and lastly to everyone else. (You can imagine that as an American citizen this was difficult to overcome.)
If you are made a job offer you must prove to the government that all of the other applicants with priority cannot do the job or you cannot be approved for a work or residence permit.
If you are not a French or Italian resident then you must live in Monaco in order to commute to work and will need a residence permit as well as a work permit. This requires that you get an apartment in Monaco before your residency is approved. (All very tricky to manage).
Once you have a work contract from your employer which is approved by the government, then you can apply for residency.
The employment law is very different in Monaco (from France and Italy). While the work contracts look the same the law favours employers and employees can be terminated without cause even after the trial period and with an indeterminate work contract. These terminations are limited but they are allowed. This is something that you should consider if you are European and are giving up a position to move to Monaco.
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