Malta’s Unemployment Rate Holds Steady at 2.9% in Q4 2024

VALLETTA, Malta – The unemployment rate in Malta remained steady at 2.9% in the fourth quarter of 2024, mirroring figures from the same period last year, according to the latest data released by the National Statistics Office.

The total number of unemployed individuals saw a slight decline, decreasing by 446 year-on-year to reach 9,566. In contrast, the number of inactive persons also fell, dropping by 2,187 to 159,510.

The employment rate experienced a significant increase, rising to 80.8% from 78.7% a year prior. This rise corresponds with a 13,266 increase in the number of employed individuals, bringing the total to 325,631.

The activity rate, which reflects the proportion of the working-age population that is either employed or actively seeking work, also rose, climbing to 83.3% from 81.3% compared to the previous year. Notably, the highest activity rate was seen in individuals aged 25 to 54, who logged an impressive 91.7%.

“These figures indicate a robust labor market in Malta,” stated the Minister of Employment, who highlighted the government’s efforts in promoting job creation and workforce participation.

As Malta continues to navigate through various economic challenges, the stable unemployment rate coupled with an overall increase in employment suggests a positive trend for the island nation’s economy.

The report underscores the importance of strategic policies aimed at encouraging workforce engagement, particularly among younger age groups, to sustain this positive trajectory moving forward.