Malta records steepest drop in unemployment

Malta has ranked first among EU member states in the reduction of unemployment, according to new statistics for December published in Brussels today.

According to the EU’s statistics arm, among the 27 member states, Malta posted the largest reduction in unemployment over a 12 month period, reaching 6.2 per cent in December 2010 as against 7.3 per cent registered in December 2009.

The only country which managed to do the same was Sweden (8.9 to7.8 per cent) . Germany and Finland reduced their unemployment at a slower pace.

On the other hand, the highest increases in unemployment were registered in Lithuania (14.3 to 18.3 per cent), Greece (9.7 to 12.9 per cent), Bulgaria (8.6 to 10.1 per cent) and Slovenia (6.4 to 7.8 per cent).

Eurostat said that last December, Malta had the forth lowest unemployment rate in the EU.

The Netherlands (4.3 per cent), Luxembourg (4.9 per cent) and Austria (5 per cent) posted the lowest unemployment rates while Spain (20.2 per cent), Lithuania and Latvia (both 18.3 per cent) had the highest.