For the tenth consecutive month, Social Security enrolment in the Balearic Islands reached a new all-time high, with 606,422 people registered with Social Security. This is the second time in the entire historical series that the Islands have exceeded the ceiling of 600,000 registrations. This year-on-year increase represents a growth of 9.8%, the highest in Spain as a whole, which has seen enrolment grow by 3.4%. In addition, unemployment in August in the Balearic Islands is also very low, reaching 2007 levels. Unemployment in July was 35,758 people, a fall of 26.4% compared to the same month last year.

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Another noteworthy fact is that the number of self-employed workers has also achieved a historic record in the month of August, once again exceeding 100,000 self-employed workers. Specifically, 100,762 self-employed persons were registered.

The number of permanent contracts stands at 62.8%.

Permanent contracts are once again an important element in the analysis of the labour market in the Islands, since, for the fifth consecutive month, the percentage of new permanent contracts is at high levels, thus consolidating the change of scenario in the Balearic labour market, with a new paradigm where permanent contracts are the norm and a temporary employment rate that is now at levels comparable to the European average.

Thus, in just one year, the number of permanent contracts has risen from 15.5% to 62.8% in July of this year, while in Spain the average rate of permanent contracts is only 33.4%.

Unemployment fell by 26.4% and stood at 35,758 unemployed persons.

Finally, 35,758 people were registered as unemployed in August, the lowest figure in the last 15 years for this period, and representing a fall of 26.4% compared to a year ago. This is the sharpest fall in the whole of Spain, which reduced unemployment by 12.3%.

As happens in the months of August in contexts of economic expansion, unemployment grew slightly compared to July (2.1%), explained by seasonal patterns in some sectors. The month-on-month increase this year (752 persons) is, in any case, lower than the usual values in periods of economic expansion.