January’s enrolment stands at 451,815 people, 4.1% more than the previous year, and records a second consecutive record high for this period of the previous year

Unemployment in December was 35,851, 34.7% lower than last year and the sharpest fall in the whole of Spain.

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Balearic Islands

The year 2023 has begun in the Balearic Islands in the same way as it ended in 2022: with intense job creation and a reduction in unemployment, with historic records in both cases. The Councillor for Economic Model, Tourism and Employment, Iago Negueruela, today presented the data on enrolment and unemployment for the month of January and stressed that the Islands are leading economic growth in Spain as a whole, which is reflected in the performance of the labour market.

Negueruela, who presented the data together with the Director General of the Economic Model and Employment, Llorenç Pou, and the Director General of Tourism, Isabel Vidal, added that the forecast for this year, seeing the behaviour of these months of lower activity, points to the maintenance of high activity, economic growth and that the Islands will once again record months of full employment, as was the case in 2022.

New all-time high in Social Security enrolment in the Balearic Islands

Social Security enrolment recorded a new all-time high for the month of January: 451,815 people enrolled, a total of 17,822 more than last year, which represents a net increase of 4.1% compared with January 2022. This is the fifteenth consecutive month that the Balearic Islands has recorded a record year-on-year increase (with two consecutive record highs in January), which indicates that the behaviour of the labour market is not cyclical and is following a clear trend of job creation, more intensely than in Spain as a whole.

The 4.1% year-on-year increase in enrolment is a figure that already exceeds the rebound effect of the pandemic and represents a very high increase, also with a high level of stabilisation of employment, since permanent contracts reached almost 68% in January, which means that in one year the way of hiring in the Islands has experienced a shift towards quality in employment.

The Balearic Islands is, together with the Canary Islands (which is in high season), the region that has generated the most employment in January, also taking into account that this is a period of lower activity, due to the seasonal nature of tourist activity. In Spain, the average growth in Social Security enrolment was 2.3%.

Compared with December, enrolment fell by 1.3%, with 6,206 fewer people enrolled, a usual fall in accordance with the temporary nature of activity in the Balearic Islands.

The lowest unemployment for a January, which is 34.7% lower than a year ago

Unemployment in January stood at 35,554 people, the lowest figure in the entire historical series for a January in the Balearic Islands. This figure means that, compared to last year, unemployment has fallen by 18,881 people, a percentage drop of 34.7%.

This is the sharpest drop in Spain as a whole, which saw unemployment fall by 6.9% compared to a year ago.

Unemployment also fell compared to December in the Islands, the only region to record a decrease (0.8%, with 297 fewer unemployed). In Spain, unemployment increased by 2.5% overall compared to December.

The administrative unemployment rate for January in the Balearic Islands stands at 7.3%, below 10 points, and clearly below the national average (12.7%).