Labour Force Survey (LFS) estimates published by the National Statistics Office (NSO) indicate that, during the first quarter of this year, total employment stood at 217,259 accounting to more than half the population aged 15 and over. The number of persons who were unemployed stood at 9,966 (2.5 per cent) while inactive persons totalled 172,092 (43.1 per cent). The activity rate for the quarter under review was estimated at 71.2 per cent, with the highest rate recorded being among persons aged 25-54 (82.4 per cent).
The Employed Population
On average, out of every 100 persons aged between 15 to 64 years, 68 were employed. The male employment rate for this age bracket reached 79.1 per cent while that for females stood at 56.4 per cent. The largest share of employed persons was recorded among persons aged between 25 and 34 years, for both males and females.
Self-employment accounted for 14.3 per cent of all persons with a main job. The majority of employed persons were working on a full-time basis totalled 186,832. On the other hand, an estimated count of 30,427 persons had a part-time job as their primary employment. On average, full-timers worked 41.5 hours while part-timers were working for 23.3 hours per week.
The average annual basic salary (excluding overtime, bonuses and allowances) of employees for the first quarter of 2018 was estimated at €18,643. The highest basic salary was recorded in Financial and Insurance Activities sector. Average annual salaries varied from €34,291 among managers to €12,922 among persons employed in elementary occupations.
The Unemployed and Inactive Population
The unemployment rate for the first quarter of 2018, stood at 4.4 per cent. The largest share of unemployed persons was recorded among persons aged 25 and over. Among the unemployed, 74.3 per cent stated that they had been seeking work for less than 12 months. The main reason for inactivity relates to persons reaching retirement age or taking up early retirement (43.9 per cent).
According to the Labour Force Survey, 53.2 per cent of the 15 plus population have attained a low level of education. This comprises persons with less than 5 ordinary level (or equivalent) qualifications. Among the employed population, 29.7 per cent had a tertiary education.