The lowest unemployment rate in the euro area

Last March Malta’s unemployment rate stood at 3.2%, 0.2% lower than a year earlier.

Statistics released by Eurostat show that, in March, Malta remained the euro area country with the lowest unemployment rate. Malta’s unemployment rate stood at 3.2%, 0.2% lower than a year earlier. 

In the EU, unemployment now stands at 6.0%, the same as a year earlier, while in the euro area the rate is 6.5%, versus 6.6% a year earlier. The highest unemployment rate is 11.7% in Spain and the lowest is 2.9% in the Czech Republic.

As regards youth unemployment, the rate in Malta is 9%, against an EU and euro area average of 14.6% and 14.1% respectively. The highest youth unemployment rate is 27% in Spain while the lowest is 6% in Germany. Malta has the third lowest youth unemployment rate among euro area countries.

It is worth recalling that, at the height of the 2009 recession, in December 2009 Malta 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.

Under pre-2013 administrations, Malta had an average unemployment rate of 6.8%, while youth unemployment averaged 14.7%. The average under post-2013 administrations is 4.4% among the entire population, and 10.6% among young people.

Photo: Shutterstock

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