People in employment up 5.1%, Labour Force survey shows

Thursday, 15 December 2022, 11:14 Last update: about 3 years ago

During the third quarter of 2022, the Labour Force Survey estimates that the total number of persons in employment was 284,571, which is 5.1% higher when compared to the previous year, a press statement issued by the NSO said.

Labour Force Survey estimates indicated that, during the third quarter, total employment stood at 284,571 accounting for 62.8% of the population aged 15 and over. Unemployed persons stood at 8,566 (1.9%) while inactive persons totalled 160,078 (35.3%).

The activity rate for the quarter under review was estimated at 79.9% with the highest rate recorded among persons aged 25 to 54 (89.7%). On average, out of every 100 persons aged between 15 and 64 years, 78 were employed.

The male employment rate for this age bracket was 83.4% while that for females stood at 70.8%. The largest share of employed persons was recorded among persons aged between 25 and 34 years, for both males and females.

Self-employed persons accounted for 15% of all persons with a main job. The majority of employed persons worked on a full-time basis and amounted to 250,031. A further 34,540 had a part-time job as their primary employment.

Results show that, on average, full-timers usually worked 40.9 hours while part-timers worked 23 hours per week. In the third quarter of 2022, employed persons actually worked 32.4 hours per week, 1.1 hours less when compared to the previous year. The average monthly basic salary of employees for the third quarter of 2022 was estimated at €1,763. The highest basic salary was recorded in the Financial and insurance activities sector.

Average monthly salaries varied from €1,155 among persons employed in elementary occupations to €2,753 among managers.

The unemployment rate for the third quarter of 2022, stood at 2.9%. Females accounted for 58.7% of total inactive persons, and those over 65 years made up the highest share of the inactive.

The main reason for inactivity relates to persons reaching retirement age or taking up early retirement (42.7%). Education Attainment More than 40% of persons aged 15 years and over had attained a low level of education (42.7%). By contrast, 33% of the employed had a tertiary level of education.