Malta has managed to slash its number of unemployed persons by more than one percentage point in the past 12 months, according to new figures published by the EU's statistical arm Eurostat.

Last December, Malta's rate of unemployment stood at 5.8 per cent, one of the lowest of the EU 27 member states and one percentage point lower than the EU average. In December 2006, Malta's unemployment rate stood at 6.9 per cent.

According to Eurostat, Malta's performance in the creation of jobs resulted in an all-round decrease in its unemployment figures.

In fact, the number of unemployed men fell to five per cent from 6.2 per cent in December 2006, women registering for work decreased by 0.8 per cent, from 8.1 per cent in December 2006 to 7.3 per cent last December, while those under 25 trying to find employment decreased to 10.4 per cent from 14.6 per cent a year before.

Eurostat said that over the last year, 24 member states recorded a fall in their unemployment rate and three an increase. The largest falls were observed in Poland (11.8 to 8.1 per cent) and Bulgaria (8.2 to 5.8 per cent), and the highest increase was in Spain (8.2 to 8.6 per cent).

Meanwhile, according to a flash estimate, Eurostat yesterday said that inflation in the euro area is expected to be 3.2 per cent in January 2008. It was 3.1 per cent in December 2007.