8,092 Job Vacancies in Q2 of 2024 in Malta

September 14 2024 07:31 by PCLMedia

In the second quarter of 2024, Malta recorded a total of 8,092 job vacancies, marking a 13.7% increase compared to the same period in 2023, according to the National Statistics Office (NSO).

The professional, scientific, technical, administration, and support service activities sector contributed the largest share of vacancies, accounting for 25.4% of the total during Q2 2024. In contrast, the real estate activities sector generated the fewest job vacancies, representing only 0.7% of the overall job openings.

“The highest year-on-year increase in job vacancies was in the professional, scientific, technical, administration, and support service activities sector, with an addition of 740 vacancies. This was followed by the information and communication sector, which saw an increase of 430 vacancies. However, the arts, entertainment, recreation, and other service activities sector experienced the largest drop, with 344 fewer vacancies compared to the second quarter of 2023,” the NSO reported.

Small enterprises, with 1 to 49 employees, contributed 45% of all job vacancies, while companies with 250 or more employees generated 28.2% of total vacancies in Q2 2024.

Private vs. Public Sector

The private sector played a dominant role in job creation, adding 974 vacancies between Q2 2023 and Q2 2024, totaling 7,711 vacancies. Meanwhile, the public sector reported a total of 381 job openings during the same period. “The private sector accounted for 95.3% of all vacancies, leaving the public sector with just a 4.7% share,” the NSO highlighted.

Occupied Posts

As of Q2 2024, the number of occupied posts within enterprises with one or more employees stood at 265,971. “Just over a quarter of these positions were in wholesale and retail trade, transportation and storage, accommodation, and food service activities, which saw a 4.6% increase over the year. Meanwhile, 66,281 posts were occupied in the public administration, defence, education, human health, and social work sectors, representing 24.9% of all jobs.”

Large enterprises with 250 or more employees accounted for 38.5% of all occupied posts. Businesses with 50 to 249 employees made up slightly more than one quarter of total occupied positions. The private sector had 210,476 occupied posts, representing 79.1% of all jobs, while the public sector accounted for 55,495 jobs, or 20.9%.

Vacancy Rate in Malta and Other European Countries

In Q2 2024, Malta's job vacancy rate stood at 3%, representing a 0.2 percentage point decrease from the previous quarter but a 0.3 percentage point increase compared to Q2 2023. The highest vacancy rate was recorded in the information and communication sector (6%), while the lowest was in the public administration, defence, education, human health, and social work sectors (1%).

Across Europe, job vacancy rates vary significantly. For instance, in Germany, the job vacancy rate was 2.9% in Q2 2024, slightly lower than Malta's rate. Meanwhile, in the Netherlands, the job vacancy rate was higher, standing at 4.2%, driven by strong demand in sectors such as construction, trade, and information technology. In France, the job vacancy rate remained stable at 2.5%, while Italy reported a lower vacancy rate of 1.8%, reflecting more subdued labor demand in certain industries.

These variations across Europe can be attributed to differing economic conditions and sector-specific labor demands. Countries like the Netherlands, with higher job vacancy rates, tend to experience labor shortages in growing industries, while countries with lower rates, such as Italy, often face challenges in creating new job opportunities in certain regions.

Vacancy Rates by Enterprise Size

In Malta, small enterprises (1 to 49 employees) had a job vacancy rate of 3.7% in Q2 2024, reflecting a greater demand for labor in this segment. In contrast, large enterprises with 250 or more employees had a lower job vacancy rate of 2.2%. The private sector overall recorded a 3.5% job vacancy rate, whereas only 0.7% of public sector jobs were vacant during the same period.

In comparison, other European countries displayed similar trends in vacancy rates by enterprise size. For example, in Germany, small enterprises had a higher job vacancy rate of around 3.4%, while larger companies had a rate of 2%. The Netherlands saw even higher vacancy rates in small businesses, at over 4.5%, due to the high demand for workers in industries such as hospitality and trade.

These insights suggest that, much like Malta, small enterprises across Europe face greater challenges in filling positions, particularly in sectors with high growth or labor shortages.