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Updated | Labour expresses concern as unemployment is up by 7.8%

The National Statistics Office says the number of persons registered as unemployed as at the end of June stood increased by 485, or 7.8%, over the same month last year.

25 July 2012, 12:00am
ETC figures for June show that unemployment increased by 7.8% when compared to June 2011
Updated with Labour's statement at 2:36pm

The National Statistics Office (NSO) said the number of persons registered as unemployed as at the end of June stood at 6,697 - an increase of 485, or 7.8%, over the corresponding month last year.

The NSO said records provided by the Employment and Training Corporation (ETC) show that in June, the number of persons registering as unemployed in Malta and Gozo stood at 6,027 and 670 respectively.

Accordingly, during the twelve-month period to June, the number of registered unemployed went up by 502 on the mainland, but declined by 17 in Gozo.

Meanwhile, Labour said the figures published by the NSO are "worrying."

In a statement issued this afternoon, Labour said the increase in unemployment was forecast by the European Commission and the International Monetary Fund "but instead of taking the necessary measures, GonziPN stubbornly rejected these forecasts."

Labour added that the statistics issued today expose Prime Minister's Lawrence Gonzi's cheap propaganda on employment.

Labour underlined the need for a new government which is focused on overcoming economic challenges, because "while the country's economy is going through a recession, the Prime Minister has lost control of the economy as the cost of living has shot up and unemployment is raising its head again."

The number of persons registering under Part 1 of the unemployment register increased by 435 (7.8%), while those registering under Part 2 went up by 50 (7.5%).

On a gender basis, 78% of the registered unemployed, or 5,224, were men. When compared to last year, unemployment among men went up by 6.7%, while female unemployment increased by 11.9%.

Unemployment rose across all age groups, with the exception of those aged under 20. When compared to June 2011, the number of persons registering for work for more than one year rose by 86, or 3.8%, while persons who were registering for work for less than 21 weeks went up by 229, or 8.8%.

Persons with a disability under Part 1 of the unemployment register numbered 499, an increase of 106 over the corresponding month last year.

In line with past trends, the majority of unemployed men were seeking occupations in services, sales and crafts, whereas women mostly sought clerical jobs.

In February 2012, the registered unemployment rate stood at 4.4% of the labour supply (excluding part-timers): 5.2% for men and 2.8% for women.

The unemployment rate for persons registering under Part 1 stood at 4.7% among persons aged 45 and over, and 5.2%  for persons under 25 years of age.

The unemployment rate of persons who had been registering for work for at least one year under Part 1 of the unemployment register stood at 1.4%: 1.8%  for men and 0.7% for women.

It appears that no one appears to realise that the European Union is in a major recession. When that happens all economies tend to shrink and some more than others. Fortunately Malta's economy has managed to survive somewhat but the way that these figures are portrayed you would think that this was worse than a disaster. Malta has a lot to offer investers and in that it must be added that the knowledge of the British proposal to bring to Malta a major €100,000,000-00 investment to produce biofuels in Malta is much welcomed. For it will produce enough biofuels in Malta to supply all the needs for gasoline replacement at a stroke at a cost affordable to all. And it will create 140/200 directly employed jobs (mainly apprentices and technicians) by 2015 with a further 400 to 600 in the economy altogether. This is in addition to the 200 or so construction jobs that will be created during the building period. As I read elsewhere this project will start in Malta during August 2012! Lest we forget this is the type of project we need in Malta and it is the fore-runner of two more with a further €300,000,000-00 to come. Let’s all sing praises to Malta as being welcoming to such investments and to thinking of Malta first for their location. So Malta Today publish this item and cheer us all up.
m borg
What is even more worrying is the unavailability of jobs for those 50+.
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