Social Security enrolment in March stands at 467,320, a new all-time high for the fifth consecutive month.

Apr 5, 2022 | Current affairs, Featured, Revista Lloseta, Thursday Daily Bulletin, Tradition

The labour market in March in the Balearic Islands has increased its pace, with enrolment leading the whole of Spain and the highest recorded in the month of March in the Community. This is now five months of accumulated record highs in enrolment. Last month, 467,320 people were enrolled, a year-on-year increase of 11.4% and 47,822 more than a year ago.

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The Minister of Economic Model, Tourism and Employment, Iago Negueruela, and the Director-General of Economic Model and Employment, Llorenç Pou, today presented the enrolment and unemployment data for the month of March. The Minister pointed out that the Balearic Islands continue to lead the way in job creation in Spain, with a year-on-year increase in enrolment of 4.8%.

The Minister wanted to convey a message of calm and confidence in the Balearic Islands market which, despite an uncertain context, with a transport strike that has not affected the Islands, and with an international war context that, in the short term, does not appear to be a factor that will affect economic activity.

In addition to highlighting the fact that historic figures have been recorded, the councillor also pointed out that, for the first time in March, more permanent than temporary employment has been recorded, one of the main effects of the labour reform. In this regard, he explained that 55% of the total number of permanent contracts was permanent, three times the number of permanent contracts registered in the same month of 2019. Negueruela described this historic event as a paradigm shift in hiring, where the hallmark is stability.

Unemployment falls by 40.4%, 33,498 fewer unemployed people than a year ago

In March, 49,490 people were unemployed, 40.4% less than a year ago (33,498 fewer unemployed, the largest reduction in Spain, where unemployment fell by almost half, 21.3%). As with previous months, March unemployment is the lowest figure recorded for 14 years (2008).

The number of unemployed also showed a significant fall compared with February. Thus, the month-on-month fall was -5.7% and 3,014 fewer unemployed people than in the previous month. In fact, the fall in unemployment compared to February has been more intense than the fall in the number of unemployed people at national level, at 2,921 unemployed people.

As a result, the administrative unemployment rate fell by five tenths of a percentage point to 9.5% in March. This indicator is four percentage points below the national average of 13.5%.

The number of workers on ERTE falls by more than 1,100 people

Finally, the number of workers on ERTE continues to fall month by month. On the last day of March, 4,399 people were registered as being on ERTE, which represents a decrease of 1,167 people with respect to the previous month.