Malta retains third lowest unemployment rate across the EU

Malta's rate of unemployment in July 2015 stood at. 5.7%, marking the third lowest rate across the European Union.

According to figures published by Eurostat, the statistical office of the European Union, the euro area (EA18) seasonally-adjusted unemployment rate was 11.5% in July 2014, stable compared with June 2014, but down from 11.9% in July 2013. 

The EU28 unemployment rate was 10.2% in July 2014, also stable compared with June 2014, but down from 10.9% in July 2013.

Eurostat estimates that 24.850 million men and women in the EU28, of whom 18.409 million were in the euro area, were unemployed in July 2014. 

Compared with June 2014, the number of persons unemployed decreased by 41,000 in the EU28 and remained nearly stable in the euro area. Compared with July 2013, unemployment fell by 1.634 million in the EU28 and by 725,000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Germany and Austria (both 4.9%), and the highest in Greece (27.2% in May 2014) and Spain (24.5%).

Compared with a year ago, the unemployment rate fell in 22 Member States, increased in three and remained stable in three. 

The largest decreases were registered in Hungary (10.4% to 8.1% between June 2013 and June 2014), Portugal (16.3% to 14.0%), Croatia (18.1% to 16.2%), Spain (26.2% to 24.5%) and Ireland (13.1% to 11.5%). 

The only increases were registered in Finland (8.1% to 8.7%), Italy (12.1% to 12.6%) and Luxembourg (5.9% to 6.3%).

In July 2014, the unemployment rate in the United States was 6.2%, up from 6.1% in June 2014, but down from 7.3% in July 2013.

In July 2014, 5.062 million young persons (under 25) were unemployed in the EU28, of whom 3.327 million were in the euro area. Compared with July 2013, youth unemployment decreased by 563,000 in the EU28 and by 226 000 in the euro area. 

The youth unemployment rate was 21.7% in the EU28 and 23.2% in the euro area, compared with 23.6% and 24.0% respectively in July 2013. This is the lowest rate for the EU28 since September 2011 and for the euro area since June 2012. 

In July 2014, the lowest rates were observed in Germany (7.8%), Austria (9.3%) and the Netherlands (10.4%), and the highest in Spain (53.8%), Greece (53.1% in May 2014), Italy (42.9%) and Croatia (41.5% in the second quarter 2014).