During the third quarter, the Labour Force Survey estimated that total number of persons in employment was 301,441. This was 5.9% higher when compared to the previous year, the National Statistics Office said today.

The total number of persons in employment accounts for 64.7% of the population aged 15 and over.

Unemployed persons stood at 7,723 (1.7%) while inactive persons totalled 156,987 (33.7%).

The activity rate for the quarter under review was estimated at 82.7% with the highest rate recorded among persons aged 25 to 54 (91.4%).

The NSO noted that across all occupations, the average monthly basic salaries of employees varied from €3,008 among managers to €1,193 among persons employed in elementary occupations.

Among the employed population 34.8% had a tertiary level of education.

The unemployment rate for the third quarter of 2023, stood at 2.5%.

The NSO said that the main reason for inactivity relates to persons reaching retirement age or taking up early retirement (43.8%).

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