The Balearic Islands concluded 2024 with record-breaking employment figures, highlighting a significant improvement in job quality across the region. This progress is marked by a rise in permanent contracts, a reduction in unemployment rates, and enhanced wages, particularly within the service sector, which remains the cornerstone of the regional labour market. ​

Sectoral Employment Trends

According to the Active Population Survey (EPA) and the 2024 Labour Market by Sectors report from the Balearic Labour Observatory (OTIB), the service sector employed 495,800 individuals, accounting for 81.6% of total employment. This sector also exhibited the highest female employment rate at 53.2%, contrasting with male-dominated sectors like construction, industry, and agriculture.​

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The Balearic Islands Enhance Employment Quality

Notably, the industry and construction sectors experienced the most significant employment growth in 2024, with increases of 18.8% and 13.8%, respectively. Agriculture saw a modest rise of 3.0%, while the service sector’s growth was more moderate at 0.4%.

Advancements in Employment Quality

The prevalence of permanent contracts has solidified across all sectors, reaching peaks in construction (93.3%) and industry (75.8%). This shift has contributed to a decline in both temporary and part-time employment, with the construction sector reporting the lowest rates of temporary (6.8%) and part-time (1.9%) work.​

In the service sector, 66.3% of the 339,836 contracts signed in 2024 were permanent. The industry sector reported 75.8% permanent contracts out of 11,660, while agriculture had a 78.9% rate of permanent contracts among 2,858. ​

Wage Improvements

The industry sector recorded the highest average wage per employee at €2,335, marking a 4.3% increase from the previous year. The service sector followed with an average wage of €2,266, despite having the shortest average working hours. Agriculture and construction reported average wages of €2,255 and €2,112, respectively, both reflecting year-over-year increases. ​

Unemployment Trends

The number of unemployed individuals in the service sector decreased by 9.5% in 2024, totalling 21,168. Overall, the Balearic Islands achieved an average unemployment rate of 5.4%, the lowest among Spanish regions, compared to the national average of 11.8%. ​

These developments underscore the Balearic Islands’ commitment to enhancing employment quality, fostering a more stable and prosperous labour market for the region’s workforce.