Unemployment figures drop in Balearic Islands as economy bounces back

Unemployment figures drop in Balearic Islands as economy bounces back

Unemployment figures drop in the Balearic Islands as the economy bounces back. Image: CAEB

Unemployment has decreased significantly in the Balearic Islands, making the unemployment reduction rate twice that of the national average.

On July 4, the president of the Confederation of Business Associations of the Balearic Islands (CAEB), Carmen Planas, assessed the figures from June for enrolment in the Social Security system, unemployment and job recruitment that had been presented earlier on the same day by the Spanish Government.

The decrease in unemployment in the Balearic Islands has remained the same (-45.4 per cent), double the national average (-20.3 per cent). This reduction means that 34,248 people are currently unemployed in the Balearic Islands, compared to 62,749 a year ago.

Planas said: “Although the employment figures are positive, we have not yet recovered the pre-pandemic level of economic activity.” Both the conflict in Ukraine and the extreme inflation are “elements that create uncertainty for businesses, especially with regards to this year’s autumn-winter season”.

The economy of the Balearic Islands “is still recovering from the huge hole left by Covid-19 because we were the autonomous community that suffered the most in 2020,” she added.

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Written by

Tamsin Brown

Originally from London, Tamsin is based in Malaga and is a local reporter for the Euro Weekly News covering Spanish and international news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.