Over 2,600 people in Malta earn a minimum wage, a parliamentary question revealed this week.

That number may not sound like much when one considers that Malta’s full-time workforce is 243,000 strong, but it means that over two thousand people are earning a measly €792 per month.

This is an amount that cannot guarantee a decent living. While this amount does not include overtime and/or benefits or allowances, which could increase the total by a little, it is certainly not enough for a person to get by, especially if there is only one breadwinner in the household.

The information tabled by the Finance Minister also revealed that half of Malta’s full-time employees – 123,000 – earn a salary that is below the median wage, which just over €20,000.

Furthermore, 17,700 part-timers earn below the median wage, which is €10,000 in that category.

This must be seen in the context of rising inflation, because of the Ukraine-Russia war and other factors. There has been talk, in fact, that the cost-of-living adjustment (COLA) this year could be as high as €8, a reflection of the astronomical increase in prices of everyday goods.

And this is not to mention the high price of property and the low amounts that banks are willing to lend out to people earning such low salaries.

Unfortunately, the debate on introducing a decent living wage has been dragging on for many years, without any tangible results.

That could soon change, however, after a deal was struck to ensure that all minimum wage rates in Europe guarantee decent living standards for workers.

The European Parliament and Council negotiators agreed on EU rules to set adequate minimum wages, as provided by national law and/or collective agreements.

According to the agreement, member states will have to assess whether their existing statutory minimum wages -  the lowest wage permitted by law - are adequate to ensure a decent standard of living, taking into account their own socio-economic conditions, purchasing power or the long-term national productivity levels and developments.

As a Member State, Malta will also have to go through this process. Naturally, this will not be an easy process, with unions and employers butting heads as they usually do.

But it is a necessary process, especially in the times we’re living in.

Perhaps there should be a debate not only on the minimum wage but also on salaries in Malta in general, with a particular focus on young people and their needs when it comes to buying a house and starting a family.

Young people feel discouraged when they go to the bank asking for a loan only to be told that they can only borrow an amount that will buy them nothing more than a one-bedroom flat, if that. And we are talking here not just about people coming from low-income jobs but also university graduates.

It is high time that this issue is addressed and that, as a country, we ensure that our youngsters can have a decent start to their adult lives.