Unemployment continues to fall as Malta Chamber advocates for more investment in education

Between 2010-2019 the number of registered unemployed for the month of December halved. Statistics published by the National Office of Statistics show that while in 2010 the rate of unemployed was at roughly 7%, this gradually declined to 3.5% in December. This is not exceptional in that the trend in the month shows a general trend for the whole year. The Malta Chamber, contacted by Newsbook.com.mt said that while this is a positive trend, it does pose other challenges which arise out of the creation of wealth.

The Seasonally adjusted unemployment rate for the month of December 2019 stood at 3.4%, 0.2% less than the same month the previous year. This translated to 9,108 people who are unemployed. Of these, 3,200 are in the 15-24 age group and 5,800 are in the 25-74 age group. In gender terms, 5,200 of the 9,100 unemployed are males and 3,800 are females.

The Malta Chamber noted that the decline in unemployment meant that the workforce becomes more expensive particularly for the entrepreneur. “Naturally, we would like to see much greater investment in the educational system so that the abilities and skills sets of the workforce can be moulded to the needs of the future”, said the Malta Chamber