The government, rightly, has made an issue out of the fact that although slightly increasing, Malta’s unemployment rate stands at 6.5 %, one of the lowest in Europe.

Jobs are what makes the economy tick over, or the wheel go round, as say. If people are in employment, they earn money and in turn spend it. People who have a job are also taxed and that money goes into the government’s coffers to be spent on capital projects, education, healthcare and benefits for those who need it. It is the western capitalist system as we know it.

While some may be feeling discontent about spending power and political strife and the feeling of a need for change, the government cannot be faulted for the way it handled the economic crisis. The figures speak for themselves. Our economy is growing – albeit slightly – and people do not struggle to find a job, except for the true unemployables.

When we look at the figures being registered by some of our European cousins, it really puts matters into perspective. Greece’s statistics arm has just issued figures to say that in August, the unemployment rate had hit 25.4%, up from 24.8% in July. One year ago, the figure was 18.4%. It is staggering to think that 1.2 million people cannot get a job. Analysing further, 58% of young people aged between 16 and 24 are unemployed and the figures keep worsening month by month.

Meanwhile Spain managed to sell €4.76 billion in debt auctions, despite a gloomy economic forecast by the EU and an unemployment rate of 25 %.

Spain's borrowing rates have eased gradually in recent months on expectations the European Central Bank is poised to purchase of Spanish bonds. The action by the central bank is dependent on Spain asking for a bailout from the other 16 countries that uses the euro.

But in recent weeks, Prime Minister Mariano Rajoy has said he has no immediate plans to ask for rescue aid although he does not rule out a request.

Cyprus is also hankering for a bailout and unemployment is also on the rise. The fact of the matter is that it becoming a vicious cycle. Countries that have pushed their deficits and debt levels sky high are not being given loans of the commercial markets. As a result, they have to tap into EU funds and that in turn triggers a demand for austerity measures. Austerity measures do shore up public spending, but they also cause businesses to fold as demand drops and as a result, people are laid off.

The only way to stave off the crisis is by keeping people employed and creating jobs. The government might have failed in some areas, but employment and job creation (despite the Odebrecht gaffe) is not one of them.