Business News

October maintains September’s low unemployment rate

30th November 2020

The increase in unemployment over October 2019 is marginal

A report published today by the National Statistics Office (NSO) shows that the unemployment rate in October was the same as that for September, registering only a slight increase over the same period last year.

The seasonally adjusted monthly unemployment rate for October 2020 reached 3.9 per cent, at par with the previous month and up by 0.3 percentage points when compared to October 2019

The October unemployment rate for males was 3.8 per cent while the rate for females stood at 4.2 per cent.

The unemployment rate for persons aged 15 to 24 years (youth unemployment rate) was 10.1 per cent while the rate for those between 25 and 74 years stood at 3.2 per cent.

The number of unemployed persons was 10,681 with the unemployed males and the 25 to 74 age group being the major contributors to the overall level of unemployment. The seasonally adjusted number of unemployed youths amounted to 2,794, whereas those aged between 25 and 74 stood at 7,887.

In October 2020, the unemployment rate for males was 3.8 per cent, at the same level when compared to the previous month. The rate for females stood at 4.2 per cent, 0.1 percentage points more than September 2020 estimates.

The unemployment rate for persons aged 15 to 24 years was 10.1 per cent, while the rate for those between 25 and 74 years stood at 3.2 per cent.


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October maintains September’s low unemployment rate