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maltatoday, WEDNESDAY, 27 APRIL 2016 11 Business Today www.creditinfo.com.mt info@creditinfo.com.mt Tel: 2131 2344 Your Local Partner for Credit Risk Management Solutions Supporting you all the way Gender employment gap 'widest in Malta', Eurostat study fi nds Miriam Dalli The largest difference between the rate of employment of women and men in EU member states was ob- served in Malta, information re- leased by Eurostat reveals. At the opposite end of the scale, the largest difference was observed in Malta: 53.6% for women vs. 81.4% for men (or -27.8 pp). The EU average is of -11.6 pp. The data also shows an increase in the employment rate of women aged 20 to 64, which in 2015 stood at 53.6% compared to 52% in 2014. The difference between the employment rate of women and that of men aged 20-64 was lowest in Finland (71.8% for women vs. 73.9% for men, or -2.1 percentage points), Lithuania (-2.4 pp), Latvia (-4.0 pp) and Sweden (-4.2 pp). Big gaps were also recorded in Italy (-20.0 pp), Greece (-18.0 pp), Romania (-17.5 pp) and the Czech Republic (-16.6 pp). At EU level, the difference between the employment rate of women aged 20-64 (64.3%) and that of men aged 20-64 (75.9%) was -11.6 pp in 2015, compared with -17.3 pp in 2002. The data is based on the 2015 results of the European Labour Force Suvery. In 2015, the employment rate of the population aged 20 to 64 in the European Union stood at 70.1%, up compared with 2014 (69.2%) although still remaining slightly below its 2008 peak (70.3%). A similar pattern was observed for men: their employment rate hit 75.9% in 2015, an increase compared with 2014 (75.0%) but still below its 2008 level (77.8%). As for women, their employment rate has continuously risen since 2010 to reach 64.3% in 2015, above previous peaks of 63.5% in 2014 and 62.8% in 2008. The Europe 2020 strategy target is to reach a total employment rate for people aged 20 to 64 of at least 75% in the EU by 2020. This objective, the Eurostat explained, has been translated into national targets in order to reflect the situation and possibilities of each Member State to contribute to the common goal. Malta's 2020 target is of 70%. The figure in 2015 stood at 67.8%, compared to 66.4% in 2014. The employment rate of persons aged 55 to 64 in the EU has grown steadily over the last years, from 38.4% in 2002 to 53.3% in 2015. The greater participation of older workers is also one of the objectives of the Europe 2020 strategy on employment. Continuous increase in employment rate for those aged 55 to 64 in the EU From 2002 onwards, the employment rate of people aged 55-64 in the EU has grown steadily to reach 53.3% in 2015, compared with 38.4% in 2002. The growth was stronger for women (from 29.1% in 2002 to 46.9% in 2015) than for men (48.2% in 2002 vs. 60.1% in 2015). As a consequence, the gap between the employment rate of women and men aged 55-64 in the EU has been reduced, from a 19.1 percentage points difference in 2002 to a 13.2 pp difference in 2015. Almost 3 persons out of 4 aged 55 to 64 in Sweden have a job In 2015, at least half of the population aged 55 to 64 was in employment in 12 EU Member States. The highest employment rate for this age group was observed in Sweden (74.5%), followed by Germany (66.2%), Denmark (64.7%), Estonia (64.5%), the United Kingdom (62.2%) and the Netherlands (61.7%). On the other hand, the lowest employment rates were registered in Greece (34.3%), Slovenia (36.6%), Luxembourg (38.4%) and Croatia (39.0%). Compared with 2014, the employment rate for those aged 55 to 64 increased in 2015 in nearly all EU Member States. Market Commentary: Traders cash in their gains Global stocks got off to a slip- pery start on Monday. Asia and Europe were both trading lower, as Chinese shares continued their recent poor run, and European shares dropped on the back of downbeat data from Germany. US stocks were also falling on Mon- day, as investors opted to stay on the sidelines ahead of meetings of the Bank of Japan and Federal Re- serve later in the week. Germany's DAX was the region's underperformer, and lost 0.76% after the IFO issued an unexpected fall in its German business sentiment reading. As German business morale fell in April, various German companies were led lower. Volkswagen dropped 1.87% and Daimler gave up 0.7%. Mining shares also struggled at the start of the new trading week. Platinum provider Anglo American was the biggest loser after tumbling 7.33%. Iron ore heavyweight BHP Billiton fell 5.39% and Rio Tinto fell 4.16%. Oil and gas shares were trading in the red on Monday, as traders cashed in their profits after a strong rally last week. Crude oil started the day off optimistically, but ended up giving up its midday gains to trade just over $43 a barrel. This led big oil companies lower, with BP losing 2.16% and Royal Dutch Shell dropping 2.52%. BP was due to release its first quarter results yesterday. But topping the index was Imperial Brands PLC, whose shares climbed 3.07% after the tobacco makers rating was upgraded to a Buy at Goldman Sachs. Fashion retailer Ted Baker also jumped 4% on a broker upgrade. Shares in Sports Direct International were also having a green day, as reports emerged that the retailer has discussed a possible buyout of BHS. Shares of Sports Direct gained 0.77%. It was also a good day in the precious metals industry, as traders paused their heavy selling that drove prices lower at the end of last week. Gold for June delivery advanced $12.60, or 1% to end the day at $1,242.60 an ounce. Silver also gained 0.86%, or 15 cents to end the day at $17.05 an ounce. Central Bank policy meetings in Japan and the US are the focus of investors' attention this week. Signs of rising inflation in the US might tempt the Fed to adopt slightly more hawkish language in its monetary policy statement today. The Fed – which raised interest rates in December, is widely expected to leave rates unchanged this week. However, a key question to investors right now is whether the Fed is on course to raise interest rates again this year and, if so, how many times? Meanwhile, companies representing more than a third of the S&P 500's market cap are scheduled to report earnings this week. Yesterday saw the likes of Apple, Procter and Gamble and eBay releasing their first quarter figures, while Facebook's figures are likely to be highly monitored today. Amazon, Mastercard and Time Warner are scheduled for tomorrow, while Exxon Mobil, Chevron and Phillips will close off the week on Friday. This article was issued by Rebecca Naudi, Trader at Calamatta Cuschieri. For more information visit, www.cc.com. mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt