Wages remain strong despite COVID-19 pandemic – Minister Caruana

Money in pocket

Despite the COVID-19 pandemic, wages in Malta remained strong. 

Quoting the latest data from the National Statistics Office, the Finance Ministry said although the pandemic has had a negative impact in sectors such as tourism and retail due to the restrictions, the diversity in the Maltese economy has helped mitigate this impact.

In a statement, the Ministry insisted that various areas such as financial and professional services, and construction have been important in reducing the negative impact on the economy.  It added that the economic climate of other countries has resulted in failed business at high rates, decreasing workers’ salaries and rising unemployment, while in Malta wages and employment have remained stable.

Finance Minister Clyde Caruana said that these figures are a certificate to the government that the aid packages announced in recent months, especially the Covid-19 wage supplement, are bearing fruit and are achieving the desired targets.

Other data by the NSO:
Number of unemployed at 3,114