The autonomous community closes in December with 472,912 people registered with Social Security, 3.25% more in year-on-year terms.

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The Balearic Islands close 2023 with historic figures for enrollment and falling unemployment

The number of unemployed people at the end of December was 31,709, a figure that represents a decrease both year-on-year (-11.55%) and month-on-month (-3.74%).

In 2023 the Balearic Islands continued to lead job creation in the whole of Spain, with 551,638 people affiliated to Social Security, a year-on-year increase of 4.8%.

Unemployment data for 2023 are historic as the average unemployment of 31,529 people is the lowest figure in the last 22 years.

IBASSAL has started a campaign of visits to companies that have registered accidents at work, which will last until April

The Balearic Islands closed the year 2023 with 472,912 people registered with Social Security in December, which represents an increase of 14,891 affiliations concerning 2022, 3.25% more. In month-on-month terms, the number of workers in December compared to November fell by 20,069, a usual trend for this period.

The year-on-year variation of employment shows how our autonomous community leads the creation of jobs, ranking third in national year-on-year growth with 3.3%.

Affiliation data also increased in each of the islands, especially in Formentera. According to the figures for November, the latest available, employment in Mallorca rose by 3.3%, in Menorca by 1.3%, in Eivissa by 2.9% and in Formentera by 6.4%.

Unemployment at historic lows

Likewise, the number of unemployed people at the end of December 2023 in the Balearic Islands was 31,709, a figure that represents a decrease both year-on-year (-11.6%) and month-on-month (-3.7%). Thus, the Balearic Islands close in 2023 leading to the reduction of unemployment (-11.6%), well above the state average which stands at 4.6%. By islands, Formentera leads the drop in unemployment in December (-25.9%), followed by Eivissa (-5.4%), Menorca (4.7%) and Mallorca (3.3%).

The administrative unemployment rate in December was 6.3%, the lowest in recent years and one point lower than that recorded in December 2022.

The Councilor for Enterprise, Employment and Energy, Alejandro Saenz de San Pedro, who appeared at a press conference along with the Director General of Labor and Occupational Health, Catalina Cabrer, stressed that the data of affiliation and unemployment in 2023 “are really good and show that we continue to lead job creation in the Balearic Islands”. Sáenz de San Pedro added that with an annual average of 551,638 affiliations, the good data for 2022 continue to be “notably” surpassed.

Annual balance: 2023 a historic year

In 2023, the Balearic Islands continued to lead job creation in the whole of Spain, with 551,638 people affiliated to Social Security, compared to the 526,643 registered in 2022, which represents a year-on-year increase of 4.8% compared to the national average of 2.7%. By islands, the highest growth is achieved by Eivissa (5.5%), followed by Formentera (5.6%), Mallorca (4.5%) and Menorca (3.7%).

The unemployment figures for 2023 are also historic, as the average unemployment of 31,529 people in 2023 is the lowest figure in the last 22 years. The year-on-year reduction in unemployment was 21.8% compared to the national average of 6.6%, a very significant figure considering that the reduction in 2022 was greater, placing us in the context of an exit from the COVID crisis. These values show that the Islands have reached a tourist season of high occupancy and the prolongation of the season and economic activity has been noted.

Objectives for 2024

The counsellor has advanced that, among the objectives that the government has set for this new year are to increase the training offered for workers in sectors of difficult coverage and the fight against occupational accidents. Regarding the training strategy, Sáenz de San Pedro explained that the roadmap includes constant dialogue with the social agents to detect pockets of labour shortage.

Concerning the actions framed in the fight against occupational accidents, the councillor announced the start of a campaign of visits to companies that have registered three or more occupational accidents. Specifically, he explained that, through the Balearic Institute of Occupational Safety and Health (IBASSAL), 262 visits have been programmed, which are already taking place and will be carried out until April, before the beginning of the tourist season. These actions will be directed, above all, to the industry sector, construction, and asbestos removal companies, among others.