Way to go Malta! Unemployment rates on the island stand at fourth lowest in Europe
The education and retail sectors are the highest employing industries.
Malta’s unemployment rate stands at an amazing 3.5 per cent of the entire population as of February 2019, which is the fourth lowest rate in the whole Euro Area. #WorkIt
Divided by gender, recent data shows that 3.8 per cent of the male labour force is unemployed, compared to the 3.1 per cent of females. This means that around 9,000 citizens, equating to an average of 3.5 per cent, are unemployed in Malta.
According to Eurostat, who published the data, youth unemployment rate (aged 15 to 24) stood at 8.8 per cent in February, up 0.6 per cent from January, but still below the 9.4 per cent registered at the end of 2018.
However, the general Maltese rate comes in a very positive light in the Euro Area, with February 2019’s stat being at its lowest since October 2008 (7.8 per cent).
An NSO representative told us that the education and retail sectors are the highest employing industries, with 23,027 and 21,774 people registered respectively. Other high-employment sectors included public administration, food and beverage, human health, accommodation and financial services.
In total, 16.012 million people are unemployed in the EU, 12.730 of which are in the Euro Area. Compared with February 2018, unemployment fell by 1.469 million in the EU and 1.169 million in the Euro Area.
Hungary and Poland have the exact same unemployment rate as Malta, while another three countries have the lowest rates: Czech Republic having 1.9 per cent, Germany having 3.1 per cent and the Netherlands at 3.4 per cent.