A recent report by the National Statistics Office reveals that during the third quarter of 2022, the Labour Force Survey found that the total number of persons in employment increased by 5.1%.
This translates to around 284,571 persons in employment. This accounts for 62.8% of the population aged 15 and over.
Meanwhile, unemployed persons stood at 8,566, or 1.9%, whereas those inactive soon at 160,078 (35.3%). The activity rate for the same quarter was estimated to be around 79.9%.
The highest rate was recorded among persons aged 25 to 54 (89.7%). The survey also reports how, on average, 78 out of every 100 persons between the ages of 15 and 64 were employed.
Male employment rate for this bracket was registered at 83.4%, whereas the female rate stood at 70.8%. The largest share of employed persons was recorded among persons between the ages of 25 and 34.
Self-employed persons accounted for 15% of all persons with a main job, with the majority of employed persons working on a full time basis amounting to 250,031.
Meanwhile, a further 34,540 persons had a part-time job as their primary employment. The results show that, on average, full timers worked 40.9 hours whereas part timers worked 23.0 hours per week.
During the 3rd quarter of 2022, employed persons worked 32.4 hours per week, which is 1.1 hours less when compared to the previous year.
When it comes to salary, the average monthly basic income of employees for the third quarter of 2022 was estimated to be at €1,763. The highest basic salary was recorded in the Financial and Insurance Activities sector. The average monthly salaries varied from €1,155 among those employed in elementary occupations to €2,753 among managers.
More than 40% of persons ged 15 and over had attained a low level of education. By comparison, 33% of the employed had a tertiary level of education.
The unemployment rate for the third quarter of 2022 stood at 2.9%. Females accounted for 58.7% of total inactive persons, and those over 65 years made up the highest share of the inactive.