The Minister of Enterprise, Employment and Energy of the Government, Alejandro Saénz de San Pedro, and the Director General of Employment, Catalina Cabrer, have presented the unemployment figures for July, which is consolidated at 29,178 people. A figure that confirms the strength of the business fabric of the Balearic Islands and with which the islands lead the decline in unemployment in Spain. Regarding affiliation, the islands have reached 635,357 contributors this month. The minister expressed his satisfaction with these figures, “the result of business drive and the efforts of workers”.

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The business fabric of the Balearic Islands

“This does not mean that the message is triumphalist, far from it, because the truth is that our labour market has a mismatch with skilled labour. We know it and in fact, this is what all the employers with whom we have met have told us. The Balearic Islands have a problem of lack of skilled labour and therefore our active employment policies inevitably go through training. The Balearic Islands should not import qualified labour, it has to qualify its own workers here”.

Unemployment in the Balearic Islands is consolidated below 30,000 people. Specifically, the number of unemployed in July was 29,178 people, which represents a decrease of 5,828 people compared to the same month of 2022, a percentage drop of 16.6%, which contrasts with the year-on-year drop in the rest of Spain, which stands at 7.14% less. However, there was a month-on-month increase of 854 unemployed more than in June, which translates into a month-on-month variation of 3.02%. This a usual behaviour in this month, and which already occurred last year, as Cabrer explained.

In terms of affiliation, Social Security gained an average of 12,912 affiliates in July in the Balearic Islands. This represents a growth of 2.07% and the largest monthly increase in absolute terms in Spain. Based on these figures, the annual variation shows an increase of 28,710 people, 4.73% more than in July 2022. Thus, the Islands have reached 635,357 contributors this month. “A clearly good figure that evidences the power of our economy and our business fabric. At the end of the day, it is the companies that create jobs”.

This July, 43,700 contracts were signed, representing a monthly decrease of 5,521 and a year-on-year drop of 7,584. Of the total number of contracts signed, 30,331 were permanent and 13,369 were temporary. The administrative unemployment rate for July was 4.4%.