Job vacancy rates stable despite decrease in main industries

Malta’s job vacancy rates in the ‘Industry and Construction’ and ‘Services’ branches decreased when compared to the same quarter of last year. Despite this, the overall Job Vacancy Rates have remained stable.

According to a Eurostat report on job vacancy rates, the Euro area (EA19) rate is at 2.1% while in the European Union (EU28), the rate is at 2.2%. The EA19 refers to the 19 countries which have adopted the Euro as their single currency, while the EU28 refers to all 28 member states.

The figures in the report show that, when compared to the same quarter last year, Malta’s job vacancy rates in Industry and Construction have gone down from 2.1% to 1.7%. Similarly, in the Services sector, there was a decrease from 3% to 2.4%.

Meanwhile, the EA19 average shows an increase in both sectors with Industry going from 1.6% to 1.9%; and Services going from 2.3% to 2.4%. In the EU28, there is a similar increase from 1.7% to 2.1% in Industry, and 2.3% to 2.5% in Services.

That being said, although the Maltese percentages have gone down in those specific sectors, it is one of seven countries which has remained stable when looking at the vacancy rates over the whole economy. While the EA19 rose from 1.9% to 2.2%; and the EU28 rose from 2.0% – 2.2%; Malta has remained steady at 2.2%. Reasons for this steady rate, despite a decrease in the two main economic sectors are not outlined in the report.

Other countries which remained stable are Denmark, Ireland, Greece, Lithuania, Portugal and Romania. The highest recorded rates in Member States with comparable data were in the Czech Republic (5.4%), Belgium (3.5%), The Netherlands (3.1%), and Germany (2.9%). While the lowest rates were seen in Greece (0.7%), and Bulgaria, Spain and Portugal (0.9%).