Malta has third lowest unemployment rate in the EU for April

Unemployment at 10.2% in Eurozone and at 8.7% in the EU in April

Malta has the third lowest unemployment rate in the EU, with 4.3%, according to Eurostat figures for the month of April.

According to the figures, the member states with lower rates are the Czech Republic with 4.1% and Germany with 4.2% while the highest unemployment rates were observed in Greece with 24.2% in February 2016 and Spain with 20.1%.

Figures show that in the euro area, the seasonally-adjusted unemployment rate was 10.2% in April 2016, stable compared with March 2016, and down from 11.0% in April 2015. The rate is also the lowest rate recorded in the euro area since August 2011.

The unemployment rate for the whole of the EU was 8.7% in April 2016, down from 8.8% in March 2016, and from 9.6% in April 2015, and it is the lowest rate recorded in the nation bloc since April 2009.

Eurostat estimates that 21.224 million men and women in the EU, of whom 16.420 million were in the euro area, were unemployed in April 2016. Compared with March 2016, the number of persons unemployed decreased by 106 000 in the EU and by 63 000 in the euro area. Compared with April 2015, unemployment fell by 2.096 million in the EU and by 1.309 million in the euro area.

Figures show that compared to a year ago, the unemployment rate in April 2016 fell in twenty-five Member States, remained stable in Belgium and increased in Estonia (from 6.7% in March 2015 to 6.8% in March 2016) and Latvia (from 9.5% to 9.6%). The largest decreases were registered in Cyprus (from 15.7% to 11.6%), Bulgaria (from 10.0% to 7.1%) and Spain (from 22.7% to 20.1%).

In April 2016, the unemployment rate in the United States was 5.0%, stable compared with March 2016, and down from 5.4% in April 2015.

Eurostat data further reveals that in April 2016, 4.235 million young persons (under 25) were unemployed in the EU, of whom 2.932 million were in the euro area. Compared with April 2015, youth unemployment decreased by 495 000 in the EU and by 261,000 in the euro area. In April 2016, the youth unemployment rate was 18.8% in the EU28 and 21.1% in the euro area, compared with 20.7% and 22.5% respectively in April 2015.

According to the data, Malta also achieved the second lowest youth unemployment rate in the month of April, with 8.9%, only being surpassed by Germany’s 7%. The highest youth unemployment rates on the other hand, were registered in Greece (51.4% in February 2016), Spain (45.0%), Croatia (38.9% in the first quarter 2016) and Italy (36.9%).