According to the Labour Force Survey published by the National Statistics Office, 52.6% of the population over 15 years-of-age have a low level of education. The results also show male employment 20% higher than female employment in people aged between 15 to 64.
When it comes to education, the ‘low level’ means with less than five Ordinary Level or equivalent qualifications. It was found that among the employed, only 30.9% had a tertiary level of education. When it comes to the still prevalent gender imbalance in the workforce, while the male employment rate was 80.3%, the corresponding female rate was of 60.2%.
The unemployment rate in the second quarter of 2018 stood at 3.8%, with the majority of the unemployed being over 25. 75.4% of the unemployed said that they had only been seeking work for less than a year. Meanwhile, when it comes to ‘inactive people’ – who are not registered as employed or unemployed – 40.6% of these respondents were inactive due to reaching retirement age.
Looking at the overarching employment status of the country, the NSO’s survey estimated that total employment stood at 231,152 people over the age of 15. Unemployed people in the age bracket were a mere 9,159 (2.2%), meanwhile inactive people totally 167,148 (41%). The highest rate for activity was seen within the age bracket of 25-54, 85.4% of the work force.