Unemployment rate halved since 2009 recession

The percentage of people in the labour force who are unemployed in Malta remains the lowest in the eurozone.

Malta’s unemployment rate remains the lowest in the eurozone, holding steady at 3.1% in April according to Eurostat. This marks a 0.2% decrease compared to April 2023.

In the EU unemployment now stands at 6%, against 6% a year earlier, while in the euro area the rate is 6.4%, versus 6.5% a year earlier. The highest unemployment rate is 11.7% in Spain and the lowest 2.7% in Czechia.

As regards young people, the unemployment rate in Malta is 7.1%, against a European and euro area average of 14.4% and 14.1% respectively. The highest youth unemployment rate is 26.5% in Spain while the lowest is 5.8% in Germany. Malta has the second lowest youth unemployment rate among euro area countries.

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

In those times Malta had an unemployment rate of 6.8%, while youth unemployment stood at 14.7%. The average since 2013 is 4.4% among the entire population and 10.6% among young people.

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