The Malta Salary & Tax Calculator

💸 EMPLOYMENT INCREASED IN THE LAST QUARTER OF 2024

✅ According to data released on Thursday by the National Statistics Office (NSO), employment grew 4.2% in the last quarter of 2024 when compared to the same period the previous year.
→ Between October and December, 325.631 ...people were employed, which is equivalent to two-thirds of the population that are 15 or older.
→ In the meantime, over 9.500 were unemployed people and around 160.000 inactive people.

✅ According to the NSO,81 out of every 100 people, aged between 15 and 65, were employed.
→ The employment rates for men was just under 87%, while employed women stood at just below 74%.
→ It pointed out that the biggest proportion of employed people were between the ages of 25 and 34.

✅ During the period under review, there were around 290.000 full-time employees, and over 36.000 people primarily worked part-time.
→ Less than 14 percent of workers were self-employed.
→ Part-timers typically worked 23.1 hours per week, and full-timers typically worked 41.1 hours.
→ Additionally, the average hours worked per week have increased to 34.7, up by 1.9 hours from the same quarter last year.

✅ During the review period, the average monthly basic pay was slightly under €2,000, with the financial and insurance industries recording the highest salaries.
→ The NSO reported that average salaries varied from €1,239 for elementary jobs to €3,170 for managerial positions.

Read the Article! 👇
https://timesofmalta.com/article/employment-rose-last-quarter-last-year.1106513

💸 EU GENDER PAY GAP RULES COVER 0.2% OF MALTESE FIRMS

✅ According to a new EU pay transparency guideline, only 0.2% of Malta's companies would be required to submit yearly reports on their gender pay disparities.
→ Malta and other member states are required to incorporate ...the EU Pay Transparency Directive into their laws by June 2026.

✅ The directive contains a number of provisions that are applicable to all businesses, regardless of size.
→ However, employers are required to reveal the starting salary or salary range in job postings or prior to interviews, and they are not allowed to forbid workers from discussing or sharing salary information with coworkers.
→ Employees are entitled to enquire about their own compensation as well as the average salary for similar or identical jobs, broken down by gender.
→ In the event that an employee files a pay discrimination case, the responsibility to prove that there is no discrimination shifts to the employer.

✅ Only businesses with 250 or more employees are required to disclose reports on annual gender pay discrepancies.
→ Every three years, companies employing between 100 and 249 employees must publish a report.
→ Small and medium-sized firms dominate the Maltese business scene; according to data from 2022, 107 companies, or 0.2% of all companies, employ 250 or more people.
→ The remaining companies in Malta are not required to issue reports, but they are free to do so.

✅ During an International Women's Day press conference, the General Workers Union and scholars Mary Grace Vella and Yana Mintoff urged the government to successfully enact the policy.
→ "Despite its criminalisation, pay discrimination is still directly and indirectly gendered" they said, noting instances including gendered caregiving obligations, the deficiency of work-life balance programs, and restricted professional advancement and social mobility prospects.
→ "More transparency enables better salaries and provides women with more leverage in negotiations, which are usually more challenging for women," Mintoff explained in response to Vella's observation that gender pay disparity is lessened when corporations and employers are required to become more transparent.

✅ The gender pay gap in Malta was 10.2% in 2022, which indicates that women made 10.2% less per hour on average than males.
→ Josef Bugeja, the president of GWU, observed that highly structured and controlled industries, like the public sector, typically have greater gender parity.
→ However, studies indicate that there are significant gender pay disparities in Malta's less regulated white-collar sectors, like real estate, banking, and law, he added.

Read the Article! 👇
https://timesofmalta.com/article/eu-rules-gender-pay-gap-reporting-apply-02-per-cent-maltese-firms.1106271

💸 RISE IN FULL-TIME JOBS & OPPORTUNITIES

✅ The National Statistics Office released data on Friday showing an increase in both registered full-time employment and job openings.
→ In October 2024, there were 290.857 registered full-time jobs, a 4.2% increase over the same ...month the year before.
→ The number of individuals registered as having part-time work as their primary occupation increased by 5.9%.
→ Full-time employment in the public sector increased by 3.2%, while full-time employment in the private sector increased by 4.5%

✅ The increase in full-time work also showed a notable gender gap, with women gaining full-time employment by 4.9% and males gaining full-time employment by 3.8%.
→ The majority of full-time occupations were in the retail and wholesale commerce, auto and motorcycle maintenance, and lodging and food service industries.

✅ In the meantime, the quarterly Job Vacancy Survey showed that there were 7.892 job openings in the fourth quarter of 2024, an increase of 3.4%.
→ The wholesale and retail trade, transportation and storage, lodging and food services, as well as professional, scientific, technical, administrative, and support services, accounted for over half of the available positions.
→ In contrast, the real estate industry had the fewest job openings, accounting for only 1.6% of all application requests in the fourth quarter of 2024.

Read the Article! 👇
https://timesofmalta.com/article/full-time-employment-job-vacancies.1106576

💸 EUROPE'S ECONOMIC OUTLOOK: KEY RISKS & OPPORTUNITIES

This article serves as a continuation of the previous pieces published on Thursday, 13 March 2025 and Tuesday, 18 March 2025, regarding the latest EY ‘European Economic Outlook’.

✅ With the outcome of the US... elections somewhat raising the risk of inflation and tipping the scales against GDP growth, a number of major dangers threaten Europe's economic prospects, with the the following key risk factors:
→ Possible higher tariffs that would affect European exports, particularly in economies with a significant manufacturing sector. A separate examination of these tariffs and their possible impacts has been carried out by EY.
→ Prolonged hostilities in the Middle East and Ukraine could cause supply chain interruptions and spikes in commodity prices.
→ The European industrial downturn could be made worse by rising energy prices and Chinese competition.
→ Uncertainty could make consumers and businesses cautious, which would slow recovery. Food and energy supply may be disrupted by weather and political upheaval, which would increase inflation and limit GDP.
→ Southern European and emerging market nations with high debt levels are nevertheless susceptible to bond market pressures, especially since inflation no longer reduces debt loads.

✅ Despite these risks, Europe has opportunities for stronger growth, such as:
→ Households may spend excess savings from the pandemic, boosting economic activity.
→ Tight labour markets may encourage investments in automation, artificial intelligence, and robotics, increasing productivity and growth.
→ A faster decline in services inflation and stable core goods prices could enhance household spending and enable central banks to cut rates, stimulating growth. Increased immigration may help long-term growth and ease employment shortages.

✅ Europe's growth is expected to moderately accelerate in 2025, despite challenges from inflation, geopolitical threats, and global economic uncertainties.
→ Navigating these dangers and seizing opportunities will be essential to a more robust recovery.

Read the Article! 👇

https://timesofmalta.com/article/europe-economic-outlook-2025-modest-recovery-amid-risks.1105169

💸 EUROPE'S ECONOMIC OUTLOOK FOR 2025-2026

This article serves as a continuation of the previous piece published on Thursday, 13 March 2025 regarding the latest EY ‘European Economic Outlook’.

✅ With growth predicted to increase from 0.7% in 2024 to 1.3% in 2025, 1.8%... in 2026, and then dropping to 1.4% in 2027, the euro area is anticipated to have a mild economic recovery in 2025.
→ Malta is predicted to have the highest GDP growth rate among European nations in 2025, at 4%.

✅ Because of demographic factors and a decline in labour demand, employment growth is predicted to decrease in the euro area, and unemployment is predicted to settle at 2024 levels.
→ Despite continuing labour market constraint, nominal wage growth is expected to fall in 2025 but stay above pre-pandemic levels.

✅ Concerns about inflation persist, especially with regard to service costs.
→ In 2025, the euro area's overall inflation rate is predicted to remain just above 2%.
→ Wage pressures may cause increased inflation in some areas, such as Central and Eastern Europe.

✅ The European Central Bank (ECB) has started to loosen monetary policy; more rate reductions are projected in 2025.
→ Given the particularly low neutral interest rate in the euro area, EY's analysis suggests that the ECB's present monetary policy is overly restrictive.
→ EY has assessed nominal natural interest rates for both the US and the euro area.

✅ The results indicate that the ECB's deposit rate should be below 2% since the natural interest rate in the euro region is still below 1%.
→ The US natural rate, on the other hand, is much higher—nearly 3%.
→ The USD has strengthened against the EUR as a result of rising bond rates following the US elections, which have increased more sharply in the US and the UK than in continental Europe.

Read the Article! 👇

https://timesofmalta.com/article/europe-economic-outlook-2025-modest-recovery-amid-risks.1105169

💸 EUROPE'S ECONOMIC PERFORMANCE IN 2024

✅ A quarterly report from EY's EMEIA Economic Analysis Team, the most recent EY 'European Economic Outlook' examines the economic performance of Europe in the second half of 2024.

✅ Europe's economy grew ...slowly in the second half of 2024.
→ Increased real income caused a minor increase in consumption, while weak industrial output hurt exports.

✅ In the meantime, tight monetary policy, weak external demand, and business sector pessimism all contributed to the muted level of investment.
→ Some issues were resolved by government spending, but overall fiscal policies limited growth.

✅ Malta's economy was the best in Europe, with real GDP growth of 5.4% in the third quarter of 2024.
→ Since 2019, Malta's economy has experienced one of the quickest growth rates.
→ With significant differences between member states, the GDP of the euro area is 4.6% stronger overall than it was before the epidemic.

✅ Although there are differences among nations, employment circumstances have steadied in the euro region.
→ The ECB's inflation target is still not being met by wage growth, which is still strong.

Read the Article! 👇

https://timesofmalta.com/article/europe-economic-outlook-2025-modest-recovery-amid-risks.1105169

💸 MALTA'S MINIMUM WAGE RISES, EU RANK FALLS

✅ According to an EU agency's report, Malta has registered a raise in its minimum wage, but Croatia and Lithuania have surpassed it.
→ The European Foundation for the Improvement of Living and Working Conditions conducted ...this report, which offers information to help create better employment, social, and work-related policies.

✅ Malta currently has the eighth-lowest national monthly minimum wage among EU nations that have a national minimum salary, at a minimum income of €961.
→ The price has increased by 3.9% from €925 in 2024.
→ Bulgaria has the lowest minimum salary in the EU at €477, while Luxembourg has the highest at €2,631.
→ The biggest percentage rises were reported by Eastern European nations, including Bulgaria, with 15.5%, Croatia with 15.4%, and Romania with an increase of 22.8%.

✅ Interestingly enough, Malta's 1.8% inflation rate was the fourth lowest in the EU.
→ Croatia, on the other hand, had the third-highest rate of inflation at 4.5%, which greatly lessened the effect of its hike in the minimum wage in comparison to Malta.

✅ Though the Maltese government subsidises energy costs, energy price shocks have been a significant factor driving inflation throughout the EU.
→ Furthermore, state-funded subsidies intended to help low-income people are not included in these salary increases.

✅ In Malta, these benefits include a yearly Cost of Living Adjustment (COLA) of up to €1.500 and in-work assistance.

Read the Article! 👇
https://timesofmalta.com/article/malta-registers-increase-minimum-wage-falls-european-rankings.1105492

💸 EMPLOYMENT SEES AN INCREASE OF 4.6%

✅ According to the National Statistics Office (NSO), registered full-time employment as of September 2024 was 289.596, a significant 4.6% rise from September 2023.
→ Additionally, 35.411 people were employed part-time as their primary work, ...which represents a 6.6% increase over the same time previous year.

✅ Full-time employment in the private sector saw a significant boost, climbing by 5.1% over the past year to reach a total of 236.723.

✅ In the public sector, full-time employment also experienced growth, with an increase of 2.8% since September 2023, bringing the total to 52.873.

✅ The NSO highlighted that, when compared to September 2023, full-time employment for men rose by 4.3%, amounting to 175.135, while women's full-time employment increased by 5.2%, reaching 114,461.
→ This data underscores positive trends in the labour market across both sectors and genders.

Read the Article! 👇
https://timesofmalta.com/article/employment-rises-46.1105342

💸 MALTA HOLDS FOURTH PLACE IN EUROPEAN STARTUP RANKINGS

✅ Malta has maintained its fourth-place status in the 2024 Startups Nations Standard by the Europe Startup Nations Alliance (ESNA).
→ The country received full marks for attracting talent and delivering digital government ...services.
→ However, while Malta is still in fourth place, the research emphasised the importance of enhanced access to capital, optimised stock option policies, and greater diversity in businesses.

✅ Malta's economic ministry announced strong growth in startups, reporting the approval of 66 projects since 2020, which have generated over 145 high-quality jobs in the financial technology, medical technology, and robotics sectors, in a statement released on the 22nd.
→ Salaries at these firms had an average of €45,000, with a quarter of employees earning more than €60,000 and the top-paying startups offering more than €70,000.

✅ The results were assisted by initiatives such as DiHubMT, a new digital innovation centre from the Malta Digital Innovation Authority (MDIA) that will receive a high-performance computer later this year.
→ This machine will supply the computational power that researchers are now seeking from abroad.

✅ Economy Minister Silvio Schembri aims to make Malta a top location for startups and entrepreneurs by expanding support packages through Malta Enterprise, including investment of up to €1.5 million per enterprise.
→ The ministry also said a new incubation centre in the industrial zone of Ħal Far's is planned to support emerging entrepreneurs.
→ ESNA, headquartered in Lisbon, seeks to promote startup-friendly legislation throughout Europe.

Read the Article! 👇
https://timesofmalta.com/article/malta-retains-fourth-place-european-startup-rankings.1105606