Unemployment falls further to 3.3%

Unemployment remains at record lows with the July rate standing at 3.3%, according to the National Statistics Office.

An analysis of the figures reveals that women are finding work more easily than men. While the men's unemployment rate was 3.8% for the month under review, the women's unemployment rate stood at 2.5%.

Meanwhile, the youth unemployment for the 15-24 age group was 10.6% in July. For the remaining age group, the unemployment rate was 2.6%.

The July 3.3% rate marked a 0.1 percentage point drop from the previous month. Between July 2020 and July 2021, the unemployment rate dropped by 1.7 percentage points.

This translates to 9,093 unemployed persons across Malta and Gozo, with unemployment among men in the 25 to 74 age group cited as the major contributor to the overall level of unemployment.

It's important to note that the unemployment rate calculated in this NSO release differs from the registered unemployment figures published by the same office.

Registered unemployment only considers people who have actively registered as unemployed with Jobsplus in its methodology. The unemployment rate in this news release considers all those without work, who are actively seeking work and are currently available to start work.

The primary difference is that the registered unemployed figure relies solely on Jobsplus data, while the unemployment rate takes into account private recruitment practices.