Job market booms with rising opportunities

In the first 3 months of 2024 there were almost 8,700 open job opportunities in Malta.

Malta’s job vacancy rate climbed to 3.2% in the first quarter of 2024, according to Eurostat data. This is an increase compared to both the previous year (2.6%) and the prior quarter (2.8%). Meanwhile, across the European Union, employers reported job vacancies equivalent to 2.6% of all available positions.

According to the National Statistics Office, in the first quarter of 2024 there were almost 8,700 open job opportunities in Malta. This is almost 2,000 more opportunities than the same time a year earlier. This sharp increase is mainly in professional services, health, and education. Around eight of every ten job opportunities are with the private sector.

Eurostat data shows a slowdown in hiring intentions for Malta’s manufacturing and construction sectors. Companies are planning to expand their workforce by 2.7%, a decrease from the 3.0% growth projected in the previous quarter. At the same time services firms have vacancies equivalent to 3.5% of posts, compared to 3.4% in the previous quarter.

Among Malta’s service sectors, the IT and communication industry is leading the charge. Companies in this sector need to expand their workforce by a significant 6.1%. The gaming industry is also facing a worker shortage, requiring a 4.2% increase in its personnel. Interestingly, companies with a mid-sized workforce, between 50 and 249 employees, are at the forefront of this hiring wave.

Photo: Ron Lach

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