2010 sees increase in employment, but unemployment at 7.2%

During the first quarter of 2010 the number of employed persons was estimated at 164,377 (47%), the number of unemployed persons at 12,758 (4%), and the number of inactive persons at 175,154 (50%)

Of those in the 15-64 age bracket, 60% were active, (i.e. either working or unemployed). The highest activity rates among men and women were recorded in the 25-54 age group. An increase of over 2 percentage points was recorded in the activity rate among women, whereas rates for males registered minor changes.

The Labour Force Survey is an enquiry carried out on an ongoing basis using a quarterly sample of 3,200 private households.

The majority of unemployed persons were aged between 15 and 24, followed by those in the 25-34 age group. Within the unemployed population, 46% stated that they had been seeking work for 12 months or more. The unemployment rate for the period under review stood at 7.2%

The employment rate for the first quarter of 2010 was estimated at 55%, with the highest rates being recorded among persons aged between 25 and 54. The increase in the total employment rate was mainly attributed to the female component. This increase also explains the upward shift recorded in activity rates.

The majority of employed men were engaged in the wholesale and retail trade, repairs sector, (18%), followed by 17% in manufacturing activities. Similarly, most of the female employed population worked in wholesale and retail trade, repairs sector (16%), and education-related activities (16%).

In general, employed persons were mostly working in service-oriented jobs. This category includes occupations such as hairdressers, waiters and salespersons. Clerical occupations were predominant among female workers, whereas men were mostly engaged in craft-related jobs.

The majority of employed persons (87%) were working on a full-time basis, while an estimated 21,000 were engaged in part-time jobs or full-time with reduced hours. The share of employed persons working on a full-time basis dropped by over 2 percentage points when compared to last year. In terms of professional status, self-employed persons accounted for nearly 15% of the total work force.

In the period under review, the average gross annual salary of employees was estimated at €14,565. This amount refers to the basic salary and excludes extra payments such as overtime, bonuses and allowances, as explained in the methodological notes. On a sectoral basis, the highest average gross annual salary was recorded in financial intermediation. The highest average salary for employees by main occupation was for legislators, senior officials and managerial occupations, reflecting observed trends.