Redundancies are drastically down and job vacancies shot up in the first four months of this year, statistics show.
There were 2,918 jobs up for grabs through the Employment and Training Corporation (ETC) between January and April - up by 25 per cent compared with the same period last year.
In the meantime, redundancies reported to the ETC were down 23 per cent, and placements - those individuals placed through the corporation's employment scheme - increased by 35 per cent.
The figures are still, however, not as positive as 2008, when 4,896 jobs were available through the ETC in the first four months of the year. There were also fewer redundancies in the same period two years ago.
Set up in 1990, the ETC is a government service aiming to provide suitable employment and assist employers to find the right employees. It also provides training services to clients seeking new jobs.
When contacted, Finance Minister Tonio Fenech said the figures for the first four months this year were a clear indication that the economy was recovering from the blows inflicted in the past two years. Statistics showed that exports, tourism and consumption were increasing.
Mr Fenech said credit should be given to the government for its budget initiatives - with tax credits introduced for small businesses, for example, clearly having an impact on boosting business and employment.
"We are also seeing more engagement from bigger companies, which are increasing employment as a result of export orders."
Though the international jitters are still around, Mr Fenech is taking comfort in the fact that the impact on Malta is minimal.
Though the weaker euro is having an adverse effect on certain sectors, such as the purchase of oil, it is making export prices more competitive.
Several firms had warned that the hefty water and electricity rates would lead to redundancies, but Mr Fenech said this fear had not really materialised.
"The energy prices are what they are. The tough decisions and sacrifices we were forced to take have ultimately paid off because we avoided the crisis experienced by countries like Greece," the minister said.