Malta’s registered unemployment jumps by 25.5% year-on-year

Malta’s registered unemployment numbers went up in July 2024, with the total number of jobseekers increasing by 25.5 per cent year-on-year. According to the latest data from the National Statistics Office (NSO), the number of individuals registering for work rose to 1,121, an increase of 228 persons compared to the same period last year, when 893 people were registered as unemployed.

And, while the 25.5 per cent figure is not small, it must be observed within the context of Malta’s historically low unemployment in recent years. Indeed, the unemployment rate for June 2024 stood at 3.1 per cent, decreasing by 0.1 percentage points from the previous month, and increasing by 0.1 percentage points from June 2023

The data for July 2024, compiled by Jobsplus, highlights unemployment growth across all age groups, with the largest increases observed among those registering for work for less than 21 weeks. This short-term unemployment category expanded by 33.8 per cent, representing 175 more people than in July 2023. Additionally, the number of individuals registering for work between 21 and 52 weeks rose by 47, while long-term unemployment, involving those on the register for over a year, also saw a modest increase of six persons.

Males continue to represent the majority of those seeking work, making up 69.1 per cent of the total registrants. In contrast, females accounted for 30.9 per cent. The gender imbalance is even more striking among jobseekers with disabilities, where 74.8 per cent of registrants were male. The total number of people with disabilities seeking employment increased slightly to 230 individuals in July 2024, up by four from the previous year.

Clerical support roles remain the most sought-after positions among both male and female jobseekers, with 23. per cent of males and 39. per cent of females targeting roles in this sector. This reflects a continuing demand for administrative positions in Malta, even as other sectors experience shifts.

These developments come at a critical time for Malta’s labour market, which is navigating post-pandemic economic adjustments. Fluctuations in key sectors such as tourism and construction are contributing to the shifts in employment trends, leaving many workers, particularly in administrative roles, seeking new opportunities.

As the country works towards a diversified and resilient economy, addressing the rising unemployment numbers remains a key challenge. The focus on reskilling, upskilling, and expanding employment opportunities in emerging sectors will be crucial to ensuring sustainable growth and workforce stability in the coming months.