The Communist Party of Malta is highly concerned by the employment figures revealed in Parliament recently. These show that 36.6% (8,775) of the 20,000 jobs created over the past four years, were part-time jobs. These statements indicate that capitalism in the first world is failing in creating good quality jobs for the workers to sustain a decent standard of living.

The figures confirm that the precarious class is also on the rise in Malta. In fact, national statistics show that many of the jobs created over the last two years were mostly on a part-time basis. This situation is also similar across all Europe.

The rise in precarious employment arises from the fact that capitalists want to maximise their profits by shifting investments to the emerging developing countries, where the price of labour is relatively cheap. The present economic system can’t sustain itself to create good quality jobs in the first world.

The dismantling of COLA and the welfare state, the decrease in regular employment, low wages, the increase in retiring age and reduction in collective bargaining are all symptoms of this neo-liberal agenda. 

The Communist Party of Malta views the present economic situation as problematic. The neo-liberal system has failed and will not find any solutions for enhancing the people’s standard of living. An alternative solution to neo-liberalism must be found before the total collapse.

■ Victor Degiovanni

Secretary

Communist Party of Malta