Issue link: https://maltatoday.uberflip.com/i/1501472
3 NEWS 15.6.2023 Number of persons in employment in Q1 2023 up 5.3% over 2022 LABOUR Force Survey esti- mates show that, during the first quarter, total employ- ment stood at 291,756 ac- counting for 63.0 per cent of the population aged 15 and over. Unemployed persons stood at 8,585 (1.9 per cent) while inactive persons totalled 163,113 (35.2 per cent). The activity rate for the quarter under review was es- timated at 80.4 per cent with the highest rate recorded among persons aged 25 to 54 (91.5 per cent). The employed population On average, out of every 100 persons aged between 15 and 64 years, 78 were employed. The male employment rate for this age bracket was 83.8 per cent while that for females stood at 71.4 per cent. The largest share of em- ployed persons was recorded among persons aged between 25 and 34 years, for both males and females. Self-employed persons ac- counted for 15.0 per cent of all persons with a main job. The majority of employed persons worked on a full- time basis and amounted to 256,592. A further 35,164 had a part- time job as their primary em- ployment. Results show that, on av- erage, full-timers usual- ly worked 40.6 hours while part-timers worked 21.5 hours per week. In the first quarter of 2023, employed persons actually worked 37.4 hours per week, 0.1 hours more when com- pared to the same quarter of the previous year. The average monthly basic salary of employees for the first quarter of 2023 was esti- mated at €1,848. The highest basic salary was recorded in the financial and insurance activities sector. Average monthly salaries var- ied from €1,189 among per- sons employed in elementary occupations to €2,995 among managers. The unemployed and inactive population The unemployment rate for the first quarter of 2023, stood at 2.9 per cent. The largest share of unemployed persons was recorded among persons aged 25 to 74 years. Females accounted for 58.3 per cent of total inactive per- sons and those over 65 years made up the highest share of the inactive. The main reason for inactiv- ity relates to persons reach- ing retirement age or taking up early retirement (42.4 per cent). Education attainment More than 40 per cent of persons aged 15 years and over had attained a low level of education (41.5 per cent). By contrast, 35.0 per cent of the employed respondents enjoyed a tertiary level edu- cation. Employment by age group and sex No. of employees Average (€) No. of employees Average (€) No. of employees Average (€) Agriculture, forestry and fishing * * * * * * Manufacturing, mining and quarrying and other industry 22,272 1,817 7,781 1,515 30,053 1,739 Construction 10,621 1,519 : : 12,200 1,595 Wholesale and retail trade, transportation and storage, accommodation and food service activities 34,535 1,577 23,058 1,330 57,593 1,478 Information and communication 8,044 2,291 3,403 ** 2,089 ** 11,447 2,231 Financial and insurance activities 8,228 2,926 8,640 2,424 16,868 2,669 Real estate activities * * * * * * Professional, scientific, technical, administration and support service activities 13,337 2,079 13,613 1,775 26,950 1,925 Public administration, defence, education, human health and social work activities 28,793 1,966 42,636 1,835 71,429 1,888 Other services 9,580 2,359 10,546 1,835 20,126 2,085 Total 136,189 1,924 111,773 1,756 247,962 1,848 ** Under represented - between 20 and 49 sample observations. Table 10. Average monthly basic salary for employees by sex and economic activity in the main occupation: January-March 2023 Economic activity Males Females Total * Unreliable - less than 20 sample observations. Average monthly basic salary for employees by sex and economic activity in the main occupation: January-March 2023 The Hudson Group, acting through Hudson Malta Sales Ltd, is set to open six new retail stores spanning around 2,000 square metres at the Mercury Towers in St. Julians, Malta later this year. This significant extension of retail space will bring iconic global brands represented by Hudson to the destination, including the largest NIKE and Mango stores in Malta, A|X Armani Exchange, Calvin Klein, Urban Jungle and Tommy Hilfiger. Hudson Malta Sales Ltd has entered into lease agreements with Mercury Commercial Mall Ltd in connection with the said six stores, which are due to open by the end of 2023. Hudson Group to open six stores at Mercury Tower