Unemployment fell by 10,500 in the third quarter in the Balearic Islands.

PalmUnemployment fell by 10,500 people in the third quarter in the Balearic Islands to 41,200, a 20.3% decrease compared to the previous quarter, according to data from the Active Population Survey (EPA) published by the National Statistics Institute (INE).

With the third-quarter decrease, unemployment has now fallen for two consecutive quarters in the Balearic Islands, and the unemployment rate now stands at 5.77%. This unemployment figure is the lowest for a third quarter since 2023. Since the start of the INE series, unemployment has fallen in the third quarter most times in the Balearic Islands (23 times), while it has risen on one occasion. The decline in the last quarter was the smallest drop since 2023.

In the third quarter, 26,200 jobs were created in the Balearic Islands (+4.1% compared to the previous quarter), bringing the total number of employed people to 672,500, the highest employment figure for a third quarter on record. Meanwhile, the number of active workers stood at 713,700 people in the region at the end of the third quarter, after increasing by 15,700 people (+2.25%) in the last three months.

In the last year, unemployment has fallen by 2,300 people (-5.3%) in the Balearic Islands and 11,300 jobs have been created (+1.7%), while the number of active workers has increased by 9,100 people (+1.3%). By gender, female unemployment fell by 4,300 in the third quarter (-18.1%), compared to an increase in male unemployment of 6,200 (+22.2%). With these data, the number of unemployed women stood at 19,500 and the female unemployment rate at 5.79%. Meanwhile, 21,700 men were unemployed at the end of the quarter, with a male unemployment rate of 5.75%. Regarding young people, the number of unemployed people under 25 in the Balearic Islands increased by 3,200 in the last three months, bringing the youth unemployment rate to 15.04%.