The Malta Independent 14 April 2021, Wednesday

Three places down: Malta had fifth lowest unemployment in the EU in May

Tuesday, 3 July 2018, 08:14 Last update: about 4 years ago

Malta had the fifth lowest unemployment rate in May 2018 (3.9%), according to figures released by Eurostat, the EU’s statistical agency.

Malta had, for a number of months, held the second lowest unemployment spot.

The euro area (EA19) seasonally-adjusted unemployment rate was 8.4% in May2018, stable compared with April2018 and down from 9.2% in May2017. This remains the lowest rate recorded in the euro area since December 2008.

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The EU28 unemployment rate was 7.0% in May2018, stable compared with April2018 and down from 7.7% in May2017. This is the lowest rate recorded in the EU28 since August 2008.

Among the Member States, the lowest unemployment rates in May 2018 were recorded in the Czech Republic (2.3%)and Germany (3.4%). The highest unemployment rates were observed in Greece (20.1% in March2018) and Spain (15.8%).

Eurostat estimates that 17.207million men and women in the EU28, of whom 13.656 million in the euro area, were unemployed in May 2018. Compared with April 2018, the number of persons unemployed decreased by 154 000 in the EU28and by125 000 in the euro area. Compared with May2017, unemployment fell by 1.828million in the EU28 and by 1.252 million in the euro area.

Compared with a year ago, the unemployment rate fell in all Member States. The largest decreases were registered in Cyprus (from 11.4% to 8.4%), Croatia (from 11.3% to 8.9%), Greece (from 22.1% to 20.1% between March 2017 and March 2018) and Portugal (from 9.2% to 7.3%).

In May2018, the unemployment rate in the United States was 3.8%, down from 3.9% in April 2018and from 4.3% in May2017.

 

Youth unemployment

In May2018, 3.377 million young persons (under 25) were unemployed in the EU28, of whom 2.390million were in the euro area.

Compared with May2017, youth unemployment decreased by 519 000 in the EU28 and by353 000 in the euro area. In May2018, the youth unemployment rate was 15.1% in the EU28 and 16.8% in the euro area, compared with 17.2% and 19.3% respectively in May2017.

In May2018, the lowest rates were observed in Malta (4.8%), Germany (6.1%), Estonia (6.8% in April 2018) and the Netherlands(6.9%), while the highest were recorded in Greece (43.2% in March 2018), Spain (33.8%) and Italy (31.9%).

 

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