Unemployment registered in the Balearic Islands in 2024 reached its lowest level since the beginning of comparable records in 1996, with 30,192 unemployed people. This decrease of 1,517 people (-4.8%) compared to the previous year reinforces the positive trend of the Balearic labor market, which now totals four consecutive years of reduction in unemployment. In addition, December registered a fall of 3.5% with respect to November, equivalent to 1,105 fewer unemployed, according to data provided by the Ministry of Labor and Social Economy.
By sex, the year closed with 16,983 unemployed women, 1,178 fewer than in 2023, and 13,209 unemployed men, a decrease of 339 unemployed. However, those under 25 years of age experienced an increase of 338 unemployed, while among those over 25 years of age unemployment fell by 1,855 people. The Services sector led the falls with 1,088 fewer unemployed (-4.58%), followed by Agriculture (-21, -5.38%) and Industry (-4, -0.31%). Construction was the only sector to register an increase (+37, +1.04%). Services and Construction continue to be the sectors with the highest unemployment, accumulating 22,670 and 3,606 unemployed, respectively, while Agriculture and Industry have the lowest figures, with 369 and 1,277 unemployed.
Hiring figures
The number of contracts signed in the Balearic Islands in 2024 increased by 5.8% during the year to 17,837 in December. As for the type of contracts, permanent contracts increased by 4.8% to 10,355 and temporary contracts increased by 7% to 7,482 contracts in the last month of the year. Of the number of contracts registered at the end of the year, 41.95% were temporary (compared to 37.19% in the previous month) and 58.05% were permanent (62.81% in the previous month).
National context
At the national level, Spain closed 2024 with 2,560,718 unemployed, the lowest figure for a year-end since 2007. Unemployment fell by 146,738 people (-5.4%), with an outstanding drop of 25,300 unemployed in December thanks to the boost of the Christmas campaign. In the Balearic Islands, the last month of the year marked the biggest monthly drop since 2023, with 318 young people under 25 and 787 over 25 leaving unemployment. These figures highlight the region as one of the engines of labor recovery in Spain, with a labor market that combines dynamics and stability.
