Number of job vacancies up more than 7% in third quarter 2024 – NSO

In the third quarter of 2024, the number of job vacancies stood at 8,579, an increase of 7.1 per cent over the same period in 2023, the NSO said Thursday.

This news release presents the findings of the Job Vacancy Survey (JVS), a quarterly enterprise-based enquiry that provides insights into the demand for labour by gauging the number of vacancies and occupied posts.

Job Vacancies

In the third quarter of 2024, there were a total of 8,579 vacancies within enterprises employing one or more persons, registering an increase of 7.1 per cent over the same period in 2023.

The wholesale and retail trade, transportation and storage, accommodation and food services activities along with the professional, scientific, technical, admistration and support service activities, generated more than half of all vacancies during the third quarter of 2024. On the other hand, the real estate activities sector recorded the lowest number of job vacancies, standing at 1.0 per cent of the total number of calls for application in Q3 2024.

Professional, scientific, technical, administration and support service activities recorded the highest year-on-year increase in the number of vacancies, with an addition of 351 vacancies totalling to 2,251 vacancies. This was followed by wholesale and retail trade, transportation and storage, accommodation and food services activities, which saw an increase of 250 vacancies. On the contrary, public administration, defence, education and human health and social work activities experienced the largest drop when compared to the third quarter of 2023, with a reduction of 254 vacancies.

Data also shows a correlation between enterprise size and number of job vacancies. In this regard, small enterprises (1 to 49 employees) contributed to approximately six in every ten vacancies whereas companies with 250 employees or more generated 15.9 per cent of all vacancies of the third quarter of 2024.

During the third quarter of 2024 the job vacancies in the private sector, which totalled 8,183 marked an increase of 972 over the third quarter of 2023, whilst vacancies within the public sector amounted to 396 for the same period under review.  The private sector continues to dominate the job vacancy market, representing 95.4 per cent of all vacancies, leaving the public sector with a 4.6 per cent share.

During the third quarter of 2024, the total number of occupied posts within enterprises employing one or more employees stood at 268,101. Over one half of these posts were recorded in the wholesale and retail trade, transportation and storage, accommodation and food service activities and in public administration, defence, education, human health and social work activities. In this regard, over a period of one year, these categories of economic activities registered a growth of 3.1 per cent each. During the third quarter of 2024, 38.7 per cent of occupied posts were estimated to be in enterprises employing 250 employees or more. Units with 50 to 249 employees made up just above one fourth of all occupied posts.

Occupied posts within the private sector stood at 212,182, garnering 79.1 per cent of the total amount of jobs. The public sector totalled 55,919, making up the remaining 20.9 per cent.

Job Vacancy Rate

In the third quarter of 2024, 3.1 per cent of jobs in Malta were vacant, increasing by 0.1 percentage points when compared to both the preceding quarter and the third quarter of 2023. The job vacancy rate was highest within the information and communication sector (5.5 per cent) whilst the public administration, defence, education, human health and social work activities registered the lowest rate of job vacancies (1.2 per cent).

Small enterprises, with 1 to 49 employees, showed a higher job vacancy rate of 4.9 per cent, suggesting a greater demand for labour in this segment. Large enterprises, comprising 250 or more employees, exhibited a lower rate of job vacancies at 1.3 per cent.

The private sector registered a job vacancy rate of 3.7 per cent in the third quarter of 2024 whereas 0.7 per cent of total jobs in the public sector were vacant during the same period.