{"id":110546,"date":"2024-11-07T12:17:16","date_gmt":"2024-11-07T11:17:16","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/balears-registra-en-octubre-una-caida-interanual-del-67-en-el-paro\/"},"modified":"2024-11-07T12:23:01","modified_gmt":"2024-11-07T11:23:01","slug":"balears-registra-en-octubre-una-caida-interanual-del-67-en-el-paro","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/balears-registra-en-octubre-una-caida-interanual-del-67-en-el-paro\/","title":{"rendered":"The Balearic Islands recorded a year-on-year fall in unemployment of 6.7% in October"},"content":{"rendered":"

Last October<\/strong>, there were 29,489 unemployed people<\/strong> recorded in the Balearic Islands<\/strong>, marking a decrease of 2,126 people (-6.7%)<\/strong> compared to the same period in 2023<\/strong>, according to data from the Balearic Government. The unemployment rate fell especially in Menorca<\/strong> (-9.3%), followed by Mallorca<\/strong> (-7.0%) and Ibiza<\/strong> (-3.2%). Conversely, it rose in Formentera<\/strong> by 5.1%. Across the whole country<\/strong>, unemployment showed a year-on-year decline<\/strong> of 157,350 people<\/strong> (-5.7%).<\/p>\n

\"\"<\/p>\n

The Secretary of Labour, Employment, and Social Dialogue, Catalina Cabrer, indicated that the interannual unemployment rate has not been this low in October since 2001<\/strong>. “Unemployment has decreased over the year, despite the fact that the end of the tourist season is now apparent<\/strong>,” she explained. Additionally, the administrative unemployment rate<\/strong> for October was 4.7%<\/strong>, which is 0.5 percentage points lower<\/strong> than the figures recorded a year ago.<\/p>\n

Unemployment rises among those under 25 and foreign nationals<\/h3>\n

In terms of demographics, year-on-year unemployment has decreased<\/strong> among women<\/strong> (-8.3%), those over 25 years old<\/strong> (-8.2%), and Spanish nationals<\/strong> (-8.9%). However, unemployment has risen<\/strong> among those under 25<\/strong> (+4.8%), as well as EU nationals<\/strong> (+2.1%) and non-EU nationals (+2.3%). Unemployment fell across all sectors<\/strong>, with the most significant decreases in the services sector (-11.4%), industry (-7.9%), and agriculture (-6.2%). Long-term unemployment, defined as those registered for more than 12 months, fell by -8.3%<\/strong>.<\/p>\n

From a month-on-month perspective<\/strong>, unemployment rose compared to September<\/strong> by 1,527 people<\/strong>, an increase of 5.5% in relative terms. This increase occurred across all islands<\/strong>, most notably in Formentera<\/strong> (+26.0%), followed by Ibiza<\/strong> (+18.8%), Menorca<\/strong> (+9.6%), and Mallorca<\/strong> (+3.7%). Nationally, data shows a 10% increase<\/strong> in unemployment compared to September. By demographics, unemployment rose from September among women<\/strong> (+5.9%), those under 25<\/strong> (+13%), and EU nationals<\/strong> (+17.4%).<\/p>\n

Record figures in Social Security affiliation<\/h3>\n

In October, the Balearic Islands again saw record-breaking Social Security affiliation figures<\/strong>, with 603,398<\/strong> affiliations, reflecting an increase<\/strong> of 19,922 people<\/strong> compared to the same month last year (+3.4%). The Balearic Islands remain one of the regions that generate the most employment<\/strong> year-on-year in October. Nationally, the average annual increase<\/strong> in affiliations was 2.5%<\/strong>.<\/p>\n

In this regard, Cabrer expressed satisfaction that the Balearic Islands continue to be among the leading communities in job creation<\/strong> and highlighted the stability of affiliation figures in October, “which indicates that the tourist season has been extended and continues to lengthen<\/strong>,” she noted.<\/p>\n

However, comparing October\u2019s figures to those of the previous month<\/strong> shows a decrease of 34,516 affiliations<\/strong> in the Balearic Islands, representing a 5.4% decline<\/strong>. Nationally, affiliation increased<\/strong> by 0.6%<\/strong> from the previous month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last October, there were 29,489 unemployed people recorded in the […]<\/a><\/p>\n","protected":false},"author":4,"featured_media":107873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515],"tags":[],"class_list":["post-110546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism"],"yoast_head":"\nThe year-on-year unemployment rate falls by 6.7% in Balears - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"Last October, 29,489 people were registered as unemployed in the Balearic Islands, a decrease of 2,126 people (-6.7%) compared to 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/balears-registra-en-octubre-una-caida-interanual-del-67-en-el-paro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The year-on-year unemployment rate falls by 6.7% in Balears - 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