Seventh month in a row

In October, Malta had the lowest unemployment rate among all European Union Member States for the seventh consecutive month. This record was first achieved in recent months, as previously the best result Malta had ever achieved was to have the lowest unemployment rate among Euro area countries.

Statistics released by the EU’s statistical office, Eurostat, indicate that, in October, Malta had the lowest unemployment rate among all European Union Member States for the seventh month in a row. Previously, the best result Malta had ever achieved was to have the lowest unemployment rate among Euro area countries.

In October, the unemployment rate in Malta was 2.5%, or four percentage points lower than the Euro area average. Unemployment in Malta was well below half of what is observed across the EU. The country that traditionally had the lowest unemployment rate in recent years is Czechia, but in this country there has been a slight rise in unemployment while the opposite happened in our country. Thus, after Malta had shared the top spot with Czechia in April and May, Malta surpassed Czechia in June and has retained an advantage since then.

It is worth noting that unemployment has remained stable in recent months across Europe, while in our country it has decreased. The European country with the most unemployment is Spain, where the rate is almost five times that of Malta.

Unemployment

 MarchAprilMayJuneJulyAugustSeptemberOctober
European Union6.06.05.96.06.06.06.06.0
Euro Area6.56.56.56.56.56.56.56.5
Spain12.512.111.911.912.011.912.012.0
Malta2.92.72.52.42.32.52.52.5
Czechia2.62.72.52.82.72.52.72.9

Turning to youth unemployment, Malta is in second place, behind Germany. One must not forget that, for many years, our country was not even among the top five countries in this important social statistic. It is worth recalling that in December 2009, at the height of the recession, our country had an unemployment rate of 7.3%, or more than double the current rate, while youth unemployment was 16%, also more than double the current rate. In March 2013, before the change of administration, Malta had an unemployment rate of almost 6%, while youth unemployment was double that.

At that time Malta was nowhere near the top spot in terms of labour market outcomes. Unemployment was high, labour participation was low, while the rise in employment was mostly in part-time work.

Photo: Andrea Piacquadio

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