Updated | Malta among lowest youth unemployment rates in EU

Eurostat figures show that Malta's youth unemployment rate is among the lowest in the EU at 10% • Government to announce new youth employment opportunities

Eurostat figures show that youth unemployment in Malta is among the lowest rates observed in the EU, with a 10% rate.

Figures show that in June 2015, 4.724 million young persons under 25 were unemployed in the European Union member states, with 3.181 million of these residing in the euro area.

Youth unemployment decreased by 386,000 in the EU and by 225,000 in the euro area when compared to June 2014.

 According to statistics, in June 2015, the youth unemployment rate was 20.7% in the EU and 22.5% in the euro area, compared with 22.1% and 23.6% respectively in June 2014.

Statistics show that the lowest rates were observed in Germany with 7.1%, followed by Malta with 10.0%, Estonia with 10.1% in May 2015, Denmark and Austria with 10.3% each.

The highest rates were observed in Greece with 53.2% in April 2015, Spain with 49.2%, Italy with 44.2% and Croatia with 43.1% in the second quarter of 2015.

A reduction in youth unemployment was the main cause behind a drop in national unemployment figures, the government said in a press statement.

In June, unemployment in Malta was at 5.5%, the lowest since Eurostat began collecting data on Malta.

In 2012, youth unemployment in Malta was at 14%, dropping to 10% currently, making it the second lowest rate in the EU, after Germany.

“This is the result of measures implemented in the past years, including the Youth Guarantee, which the Opposition dubbed ‘one big menace for the economy’,” the statement reads.

 “If the government had followed the Opposition’s advice, thousands of youths would today be receiving relief, instead of having thousands of new workers contributing to a reduction in the deficit, better investment of taxes and an improvement in pensions”.

In the coming months, the government will announce new measures to further improve the opportunities available to youth.

More in Business News