Malta withstood the economic crisis relatively well, but employment still fell in the primary and manufacturing and construction sectors. The most important sectors of its economy are: wholesale and retail trade; the repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities; public administration and defence; compulsory social security; education; and human health and social work. With a predicted decline in the working age population over the medium term, this will bring new challenges for the vocational education and training system to ensure a supply of skilled workers.
Over the period to 2025, employment levels are projected to remain stable, close to their 2013 levels. Most employment growth will be in business and other services, and most job opportunities will be for professionals.
Malta is set to see an increasing demand for highly skilled workers in that period, with a concurrent decrease in the demand for medium- and low-skilled workers. Meanwhile, the share of Malta’s labour force with high- and medium level qualifications is forecast to increase by 2025, and the share of workers with low or no qualifications to decrease significantly in the same period.
Malta’s working-age population (15-64) is projected to grow in the period over the medium term future, with labour market participation remaining steady. Looking to the longer-term future, Malta’s old-age dependency ratio is forecast to rise each decade until 2070.