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Unemployment rate drops to 10.6% in Q2

The number of people out of work in the second quarter of 2017 was 10.6% that’s 44,965 unemployment (males 10.1%, females 11.1%) compared with 50,339 (12.1%) in the same quarter last year.

According to official data, the labour force in the second quarter of 2017 amounted to 424,807 or 61.4% of the population (men 66.6%, women 56.7%) compared to 417,080 (61.3%) in the same quarter of 2016.

The number of employed persons was 379,842 and the employment rate 54.9% (men 59.9%, women 50.4%) against 366,742 persons (53.9%) in 2016.

For those aged 20-64, the employment rate was 71% and for the age group 55-64 the employment rate was a lower 53.7%.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (80.3%), followed by Manufacturing (17.3%) and Agriculture (2.4%).

The share of part-time employment to total employment was 12.8% or 48,666 persons (men 10.3%, women 15.6%).

For young persons aged 15-24 years old, the unemployment rate was 25.3% against 26.7% last year.

As far as the duration of unemployment is concerned, 35.8% of the total unemployed searched for a job for a period of less than 6 months, 18% for a period of 6-11 months, whereas 46.2% were long-term unemployed.

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