New data on employment in Malta has offered some revealing findings. First, the bad news: the Labour Force Survey estimates indicate that only 26% of the employed population has a tertiary level of education, with more than half (56.7%) having a “low level of education”, which translates to fewer than five Ordinary Level or equivalent qualifications.
Thankfully, however, there have been a number improvements in other sectors in the last couple of years. Here’s a rundown of the most interesting points.
1. The unemployment rate is down… by a lot
Between May 2016 and May 2017, the number of people registering for work dropped from 3,511 to 2,502. All age groups except those under 20 registered decreases, with the largest decrease being recorded among people who had been registering for less than 21 weeks.
The largest share of males and females on the unemployment register (19.3% and 38.8% respectively) were for jobs like clerical support workers.
2. More than half the population aged 15 and over has a job
That’s 192,277 people, and it also happens to be the highest activity rate ever recorded in Malta (sitting at an impressive 82.6%). Sixty-six out of every 100 people aged 15 to 64 are employed, with the figure rising to 77.9% among men as opposed to 53% for women.
3. The average annual salary is around €2,000 higher than in 2013
According to the study, the average employee works 41.3 hours a week and earns €18,029 a year before taxes and social contributions, which is around €2K higher than they did in March 2013. Average wages have also increased, by 5.7%, when compared to last year.
The highest basic salary was recorded in the Financial and Insurance Service sector, with an average of €24,148. On the other end of the spectrum, the construction sector (€15,876) and retail, accommodation, food service and transport sectors (€15,450) are the worst-paying.
4. Being self-employed is a growing trend
13.3% of working people are self-employed as their main job, and this is yet again higher with men (11.2% versus 5.8% with women). The majority of employed people worked on a full-time basis, totalling 164,727. Part-time jobs account for 27,500 people, with part-timers working an average of two hours a week more than last year (totalling 23.5 hours per week).