January Social Security enrolment in the Balearic Islands reaches a new record high of 433,993 people registered in January

Feb 3, 2022 | Post, Current affairs, Featured, Revista Lloseta, Thursday Daily Bulletin, Tradition

The evolution of the labour market in January shows that the Balearic Islands continue to generate employment in months of low season, with a new historical record in enrolment (433,993 people affiliated) and a fall in unemployment, to 54,435 unemployed, a figure that had not been recorded for 14 years, in January 2008.

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January’s enrolment represents an increase of 5.3% (and 21,871 more enrolments) compared to a year ago; the Balearic Islands are, together with the Canary Islands, the community that has generated the most employment in January in percentage terms.

The Balearic Islands have now recorded three consecutive months of record highs in enrolment (November and December also had the highest figures), a trend that shows the strength of the economy during the low season, and which suggests that 2022 will continue to maintain a sustained trend of job creation, continuing the line of economic and employment recovery that began in the second half of 2021.

A 34.7% drop in unemployment

On the other hand, the month of January recorded 54,435 unemployed people, 34.7% less than last year (28,906 fewer unemployed) and the lowest figure for 14 years (2008). Unemployment also showed a fall compared to December, down 2.75% and 1,539 fewer unemployed than in the previous month.

All in all, the administrative unemployment rate stood at 11.1% in January, in line with previous months. This indicator is below the national average of 13.7%.

One out of every five tourists has visited the Islands

A total of 8.7 million visitors came to the islands in 2021, of which 6.3 million were international tourists and 2.4 million domestic. All in all, one out of every five foreign tourists who have visited Spain have done so in the Balearic Islands, which means that the Islands accumulate a share of 20.3% of international tourist arrivals in Spain.