Matching the demand of tomorrow's jobs

NSO statistics for full-time employment in March 2015 show a marked increase over the corresponding figures for the previous year. The gainfully occupied population rose by 4.3%, or almost 7,000 during this particular month and over a period of one year, the labour supply (excluding part-timers) reached 174,030. This shows an annual increase of 3.1%.

This statistical increase is not a numbers game. And this result was surely not achieved through any game of chance. It is a result of good governance and the introduction of measures and initiatives that have helped Malta gain an economic momentum that is benefitting the whole country.

This economic stability is being felt throughout. The private sector, a major driver in our economic activity, has continued to expand and this has resulted in the creation of an additional 6,431 jobs, which brings the total of those gainfully occupied in the private sector to around 124,000 persons. Public sector full time employment has increased by 541 persons to 44,059. The number of those registered as self-employed also rose by 555, when compared to the corresponding month of the previous year.

 Increases in the number of the gainfully occupied were registered in almost all sectors. There was an increase of 277 in the manufacturing industry, 93 in electronics manufacture and 382 jobs in financial services and insurance. The construction industry, sometimes referred to as the ‘motor of the economy’, registered an increase of 1,162, bringing the figure up to 10,445. On the other hand, there were 1,304 fewer jobs in public administration and in defence.

 The importance that this government is and will continue giving to employment goes far beyond the need for positive statistical data. Gainful employment is a positive psychological concept that helps determine the quality of life. Meaningful employment does not stop with job stability and the extent of the pay packet. The creation of jobs that match the individual’s skills and knowledge is a very important factor in determining the type of employment that applies to each and every person. This is one of the best recipes for productivity and success.

The results achieved so far are both successful and satisfactory but they are not sufficient. In fact we have created a number of policies to bolster vocational education to ensure that our skills base will match the demand of tomorrow’s job vacancies.  We have increased the number of courses at MCAST and we must continue to work hand in hand with the local business community to identify the skills that are necessary in today’s competitive job market.

Employment and unemployment are the driving forces behind a successful economy. We must continue to increase one and decrease the other. Gainful employment stimulates economic growth and increased employee earnings lead to higher consumer spending. This is what leads to a healthier overall economy and what helps the country and its people to thrive.