In October, the number of unemployed in Balearic Islands stood at 29,489 people, marking a drop of 6.7% compared to the same month of the previous year. This decrease, which is equivalent to 2,126 fewer unemployed, makes October 2024 the month with the fewest registered unemployed in the archipelago since 2001, according to data provided by the Ministry of Labor and Social Economy. However, compared to September 2024, unemployment has increased by 5.5% with 1,527 new unemployed in the last month. By sectors, unemployment continues to affect mainly the Services sector, which concentrates 21,660 unemployed after an increase of 1,718 people (+8.61%) in October.
In Construction, unemployment decreased with 103 less unemployed (-2.63%), while in Agriculture and Industry the data show a slight increase of 9 (+2.44%) and 8 (+0.63%) unemployed, respectively. The analysis by gender reveals that, of the 29,489 unemployed in October, 16,540 are women and 12,949 are men, experiencing increases of 5.9% and 4, %, respectively, compared to the previous month. As for young people under 25 years of age, unemployment grew by 13% in October, adding 423 new unemployed in this group, while in people aged 25 and over, the increase was 4.47% with 1,104 additional unemployed.
On the other hand, unemployment among the foreign population has also registered an increase of 15.6% with respect to September, reaching 6,268 unemployed foreigners in the community.
Hiring and benefits
In terms of hiring, October closed with 29,041 contracts registered in the Balearic Islands, 7.5% more than in the same month of the previous year. Permanent contracts experienced a year-on-year growth of 9% and accounted for 61.31% of the total, while temporary contracts, which accounted for 38.69% of the total, increased by 5.3% year-on-year. Finally, in the area of benefits, 9,454 applications were registered in September, with a total of 24,601 beneficiaries in the Balearic Islands, of whom 14,855 receive a contributory benefit, 8,989 a subsidy and 757 the Active Insertion Income. Total expenditure on benefits amounts to 31.9 million euros in the archipelago.
