The Balearic Islands ended 2024 with a positive balance in terms of employment, consolidating their position as one of the leading autonomous communities in job creation. The average annual affiliation was 570,010 people, representing a 3.3% increase over 2023, surpassing the national average growth of 2.4%. The average administrative unemployment rate stood at 5.4%, the lowest in the country, compared to 11.8% nationally.
The year concluded with an average unemployment reduction of 8.3%, reaching an average of 28,943 unemployed people. The temporary and part-time employment rates dropped to 8.7% and 12.7% respectively, while the national averages were 14.4% and 20.4%.
Catalina Cabrer, the regional secretary of Labour, explained that the 2024 unemployment figures “reached a historic low since records began in the Balearic Islands, as did the administrative unemployment rate, which is half the national average, placing us in the lead and approaching full employment.”
December Data
In December 2024, Social Security affiliations reached 487,996, a 3.2% increase over December 2023. This growth was driven by sectors such as services (+3.8%) and hospitality (+3.5%). However, affiliations fell by 4.3% compared to November.
Unemployment stood at 30,192 people, 4.8% less year-on-year, with the largest decrease in Formentera (-13.2%). The monthly unemployment rate was 5.8%. Although unemployment decreased across most sectors, it rose in hospitality (+4.5%).
Permanent contracts accounted for 58.1% of the total, the highest figure nationwide. There were 17,837 new contracts, 5.8% more than a year earlier, but 27% fewer than in the previous month.
In December, the self-employment regime totalled 99,687 people, a 2.7% year-on-year increase, with a slight 0.9% monthly decrease.
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