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Malta’s Youth Is Hard At Work: Islands Lead As Europe Registers Lowest Unemployment Rates In A Decade

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Youth unemployment in Malta is one of the lowest in the entire euro area*, a Eurostat report has just revealed. Sitting at 6.3%, Malta’s rate is only matched by Germany (6.1%) and the Czech Republic (6.6%).

Malta’s 6.3% unemployment rate has dropped drastically in the last year, when it was only 9.3%.

On the other end of the spectrum lie countries like Spain and Italy, both registering a youth unemployment rate of over 30%. The average youth unemployment rate for July 2018 was 14.8% in the 28 European Union countries and 16.6% in the euro area, both down from 16.8% and 18.7% in July 2017.

When it comes to adult unemployment rates, the situation for both Europe and Malta is similarly looking up.

Eurostat

July 2018’s unemployment rates across the continent

Among EU Member states, the lowest unemployment rates in July 2018 were recorded in the Czech Republic(2.3%), Germany (3.4%) and Poland (3.5%). The highest unemployment rates were observed in Greece (19.5% in May 2018) and Spain (15.1%).

Malta falls towards the better end of the spectrum – and well below average – at 4%.

Compared with a year ago, the unemployment rate fell in all Member States. In fact, with 8.2% unemployment rate registered in the euro area last month, this means there’s been a 9.1% decrease from July 2017.

This is in fact the lowest unemployment rate recorded across the euro area since November 2008.

According to Eurostat estimates, 16.823 million men and women in the EU28 (13.381 million of whom in the euro area) were unemployed in July 2018. Compared to last year, the amount fell by 1.949 million in the EU28 and 1.368 million in the euro area.

As for youth unemployment, 3.325 million young persons (that is, under 25) were unemployed in the EU28 (2.365 million of whom were in the euro area). Last year, some 466,000 youths were unemployed in the EU (294,000 in the euro area).

*The euro area is made up of the 19 European countries who have adopted the Euro as their currency.

What do you make of these latest statistics? Let us know in the comments below

READ NEXT: Thousands Of Maltese People Will Get Kicked Out On The Streets Next Year, Real Estate Agents Warn

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Lovin Malta's Head of Content, Dave has been in journalism for the better half of the last decade. Prefers Instagram, but has been known to doomscroll on TikTok. Loves chicken, women's clothes and Kanye West (most of the time).

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