Unemployment falls 2% in the Balearic Islands

PalmaThe Balearic labor market maintains positive year-on-year growth, despite the usual slight increase in unemployment in July. The offices of the State Public Employment Service (SEPE) registered 24,882 unemployed people during the month, a figure that represents 504 fewer unemployed than a year ago, meaning a decrease of 1.99%, according to data published this Tuesday by the Ministry of Labor and Social Economy.

In contrast, compared to June, unemployment increased by 1,175 people, an increase of 4.9%, which places the Balearic Islands among the autonomous communities where the number of unemployed has grown during the last month.

At the same time, Social Security affiliation continues to reach high levels. The Islands closed July with 694,038 affiliates, 23,478 more than in the same month last year, representing a year-on-year increase of 3.5%, according to data from the Ministry of Inclusion, Social Security, and Migrations.

Compared to June, the Balearic Islands have added 15,843 new affiliates, a monthly increase of 2.3%, thus surpassing the barrier of 690,000 contributors in the middle of the tourist season.

The data reflect the strength of the labor market during the summer months, driven mainly by tourist activity, even though the end of certain contracts and the usual seasonal movements explain the slight monthly increase in the number of people registered with employment offices.