Better skills for a growing economy

The world of work is changing rapidly and so are the skills that companies need.

Malta’s buoyant economy is experiencing faster changes than the rest of Europe, calling for an even larger adjustment. The ICT sector in Malta, for instance, is growing fast but only 1.5 per cent of graduates have a degree in science, technology or mathematics. It is not enough to meet the needs of local businesses. Malta has already invested a lot in broadening learning opportunities for everyone, in schools, at university and at work. These long- term investments, supported by European funding, will need to be sustained so that businesses can find the talents they need.

Maltese companies face a double challenge: vacancies outpace the number of people available to work, and many of the workers lack the skills needed. For example in 2016, almost 1 in 4 Maltese businesses were struggling to fill jobs. A year later, the number rose to nearly 1 in 3. In addition, close to a half of Maltese have low skill levels. So how can we ensure sufficient and relevant skills in the face of technological change? The European Pillar of Social Rights, proposed by the European Commission and jointly proclaimed by all EU institutions and Member States, is our guide to successfully navigate the jobs market of the 21st century.

In line with the Pillar, Malta is investing heavily in its education and training system to reduce school dropouts, encourage more people to pursue a higher education degree and increase participation in lifelong learning. Steps are also being taken to strengthen the vocational education and training system with a strong workbased component. With the European Social Fund, Europe is supporting Malta in its efforts. Several projects help improve the education system, enable businesses to train their employees and reduce the risk of unemployment. In previous years, we supported over 4,000 businesses and more than 30,000 people. Last year, we simplified procedures so that even more businesses can benefit from European financial support. To continue building on these successes, we have recently proposed to dedicate € 100 billion in the next EU budget to invest in people.

Together, we can reap the fruits of the changing world of work. We found ways to help the unemployed to find a job. We helped businesses to thrive by supporting training for their employees. We are improving the quality and relevance of skills to help people do business and find jobs. If we join forces to address our common challenges, there is no doubt that we can create a modern, inclusive and competitive society. With the Pillar as our guide, our citizens and companies can face the future with confidence.