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9 EDITORIAL BusinessToday is published every Thursday. The newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN EDITOR: PAUL COCKS BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 1.2.2024 T he female participation rate in the labour force has in- creased dramatically over the past decade with Malta com- paring favourably with its Europe- an peers. However, Census data reveals this positive development has not resulted in a comparable increase in the number of women in senior roles. Women account for 24% of Mal- ta's CEOs, senior officials and legislators. This represents a five- point increase since 2011. Despite the improved numbers, the glass ceiling has not been broken yet. The reality is that most board- rooms are still heavily male dom- inated. This situation was glaringly ob- vious when government sat down with the country's major import- ers and supermarkets last month to sign the price stability agree- ment. Only two women put their signature on the agreement as representatives for their respec- tive companies. It should not come as a surprise, really. The situation in the polit- ical realm is no different despite legislative intervention that con- tributed to a substantial increase in women MPs in the last elec- tion. Despite having more women MPs, their number in leadership positions is still lacking. According to parliament's web- site, from the 16 Standing Com- mittees only one is chaired by a woman. And in the recent re- shuffle of his Cabinet, the Prime Minister retained the same com- plement of women – two minis- ters and three parliamentary sec- retaries. The only change was the appointment of Naomi Cachia as government Whip. It is evident that despite women gaining greater visibility on the workplace, this progress was not enough to challenge male domi- nance. We need to understand why this is happening and take steps to address the barriers that prevent women from advancing up the career ladder. These barriers may be structural in which case inter- vention can unblock the situation – a structural barrier for women to even join the workforce was the unavailability of affordable child- care, which was solved through universal free childcare. But the barriers may also be cultural, which would require a different approach that combines legislative interventions with ed- ucational processes and incen- tives. There is, however, in the Cen- sus figures a silver lining. Female employers increased from 15% in 2011 to 22% a decade later. These are self-employed women who have their own employees. A seven-point increase is en- couraging because it takes great- er effort to make the leap into self-employment. The reasons why more wom- en opted for self-employment – which is a positive development – should be explored since the answers may provide more insight as to what should happen within the private and public sectors to ensure the boardrooms become more representative of the sexes. It is in society's interest that women are able to reach their full potential, including in managerial and top posts. But there is also a business case to be made. No business or public entity can afford to lose talent or utilise it at below par simply because the in- dividual happens to be a woman. It makes no economic and finan- cial sense. Every effort must be made to ensure an enabling climate is created so that women can move up the career ladder and take on leadership roles. The glass ceiling in the boardroom n August 2023, the seasonally adjusted volume of retail trade decreased by 1.2% in the euro area and by 0.9% in the EU, compared with July 2023, according to estimates from Eurostat, the statistical office of the European Union. In July 2023, the retail trade volume decreased by 0.1% both in the euro area and in the EU. In August 2023 compared with August 2022, the calendar adjusted retail sales index decreased by 2.1% in the euro area and by 2.0% in the EU. In the euro area in August 2023, compared with July 2023, the volume of retail trade decreased by 3.0% for automotive fuels, by 1.2% for food, drinks and tobacco and by 0.9% for non-food products. In the EU, the volume of retail trade decreased by 2.4% for automotive fuels, by 0.9% for food, drinks and tobacco and by 0.6% for non-food products. Retail Price Volume DID U KNOW?

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