The number of people registered as unemployed declined slightly in November when compared to the previous month to reach 2,898, new figures released on Wednesday indicated.
While that figure was lower than the 3,114 people who were seeking work in October, it was still more than 70% higher than in November 2019, before the COVID-19 pandemic wreaked havoc on economies across the globe.
The largest increase in the number of unemployed people when compared to last year was among those who had been seeking work for anything between six months and one year, the National Statistics Office noted.
Clerical support jobs were the most in demand, with 20.3% of men and 36.3% of women seeking jobs in this sector.
Prime Minister Robert Abela noted that it was the first time since the pandemic reached Malta in March that the number of people registered as unemployed had fallen below 3,000.
"Our policies are continuing to make a real difference to people’s lives," he said on Twitter.
The government has sought to stem the economic damage caused by the pandemic through a variety of aid programmes including a wage supplement scheme, which grants business owners subsidies to help cover part of their employees’ salaries.
COVID spending bumps deficit up
Spending on COVID-19 related measures spurred government expenditure up by 15.6% January and November when compared to the same period last year, to reach just over €5 billion.
COVID-19 measures contributed major increases in both recurrent expenditure and capital spending, NSO data indicated.
In terms of recurrent expenditure, major increases were registered in spending on vouchers to spur economic activity (€45.3 million) and benefits related to the pandemic (€14.5 million), among others. Capital spending was bumped up by a €301.5m outlay on the COVID-19 business assistance programme, among other expenses.
Government revenues, meanwhile, declined 15%, due to significant decreases in income from income tax (-€203.7 million), VAT receipts (-€181.3 million), licences, taxes and fines (€84.4 million), grants (€82.8 million), customs and excise duties (€72.7 million) and social security (€58.3 million), among others.
In all, government revenue reached €3.7 billion in the first 10 months of the year.
As a result, the government’s consolidated fund – effectively its bank balance - was €1.33 billion in the red by the end of November.
By contrast, the government had an €8 million surplus in November 2019.
Government debt, which stood at €6.76 billion at the end of November, was also up by €1.45 billion when compared to the same month last year.