Government lauds low unemployment figures

The government pointed out that, at 5.8%, the unemployment had improved substantially from the 6.3% registered at the start of March 2013.

According to data released by Eurostat for December 2014, Malta has retained the fourth lowest unemployment rate out of all the EU member state. The lowest unemployment rates were registered in Germany (4.8%) and Austria (4.9%), while the highest were recorded in Greece (25.8% in October 2014) and Spain (23.7%).

“According to Eurostat, the average unemployment rate in Malta under the previous administration stood at 6.5%,” the government said in a statement. “Throughout 2014, Malta’s average unemployment rate stood at 5.9%, the lowest annual unemployment rate that we’ve ever registered with Eurostat.”

The government also pointed out that Malta’s unemployment rate was ranked 13th in Europe before the dawn of the 2008 financial crisis.

“Last year, unemployment decreased by 0.5%, compared to the Eurozone average of 0.4%,” the government said. “Malta’s youth unemployment is now fifth in the European rankings, with a rate of 13.2% when compared with the Eurozone average of 23%.

“These results contrast with the Opposition leader’s predictions that unemployment would soar over 7%. His was a mistake of over 2,000 employed people.”