Drop in unemployment in first quarter

A drop in unemployment has been registered in the first quarter this year by Labour Force Survey estimates when compared to the same period last year.

The National Statistics Office said that the in the first quarter this year, the number of employed persons was estimated at 168,023, or 48 per cent of the 15+ population.

The number of unemployed stood at 11,517 while the number of inactive persons reached 174,275, three per cent and 49 per cent of the total population aged 15 and over, respectively.

Of those within the 15-64 age group, 61 per cent were active. The highest activity rates among men and women were recorded in the 25-54 age group, with the male activity rate being almost double that of females.

The employment rate for the first quarter was estimated at 57 per cent, with the highest rates being recorded among persons aged between 25 and 54.

The largest share of employed men, 32 per cent, were engaged in wholesale and retail trade, repair of motor vehicles and household goods, hotels and restaurants; transport and communication sectors.

Most of the female employed population, 47 per cent, worked in other service activities.

Service-oriented occupations prevailed among female workers (22 per cent), while men were mostly engaged in craft-related jobs (17 per cent).

In terms of professional status, the self-employed accounted for nearly 14 per cent of the total work force.

The majority of employed people, 145,703, (87 per cent), worked on a fulltime basis. On the other hand, 22,320 were engaged in fulltime with reduced hours or part-time jobs.

During the period under review, the average gross annual salary of employees was estimated at €15,115. This amount refers to the basic salary and excludes extra payments such as overtime, bonuses and allowances.

On a sectoral basis, the highest average gross annual salary for employees was recorded in financial, real estate, renting and business activities. As expected, the highest average salary by main occupation was for legislators, senior officials and managerial occupations.

The unemployment rate for the period under review was estimated at 6.4 per cent.

On a gender basis, the share of unemployed males stood at six per cent, while that for females stood at 7.3 per cent.

The largest share of unemployed persons was recorded in the 15-24 age group.

Within the unemployed population, 52 per cent stated that they had been seeking work for 12 months or more.