Labour Force Survey estimates, as released by the National Statistics Office (NSO), indicate that, during the second quarter, total employment stood at 251,700 accounting to more than half the population aged 15 and over.
Unemployed persons stood at 8,815 (2.1 per cent) while inactive persons totalled 164,001 (38.6 per cent). Inactive persons are all those aged 15 and over who are not classified as employed or unemployed. Many classified as inactive have either reached retirement age or have taken up early retirement.
The activity rate for the second quarter of 2019 was estimated at 75.7 per cent with the highest rate recorded among persons aged 25 to 54 (88.4 per cent).
The Employed Population
On average, out of every 100 persons aged between 15 to 64 years, 73 were employed. The male employment rate for this age bracket was 80.7 per cent while that for females stood at 64.6 per cent. The largest share of employed persons was recorded among persons aged between 25 and 34 years, for both males and females.
Self-employed persons accounted for 15.9 per cent of all persons with a main job. The majority of employed persons worked on a full-time basis totalling 217,843 and 33,857 had a part-time job as their primary employment. Results show that, on average, full-timers work 42.3 hours while part-timers work 22.0 hours per week.
NSO Chart depicting employment by age, group and sex for the second quarter of 2019
The average annual basic salary of employees for the second quarter of 2019 was estimated at €19,484. The highest basic salary was recorded in the Financial and insurance activities sector. Average annual salaries varied from €34,399 among managers to €12,370 among persons employed in elementary occupations.
The Unemployed and Inactive Population
The unemployment rate for the second quarter of 2019 stood at 3.4 per cent. The largest share of unemployed persons was recorded among persons aged 25 to 74 years. Among the unemployed, 77.6 per cent stated that they had been seeking work for less than 12 months. Among inactive persons, the main reason for inactivity related to persons reaching retirement age or taking up early retirement (40.8 per cent).
According to the Labour Force Survey, 50.0 per cent of those aged 15 years and over had attained a secondary or lower level of education. This group comprises persons with less than ﬁve ordinary level or equivalent qualiﬁcations. Among the employed population 32.1 per cent had a tertiary level education.