In August, unemployment fell by 48% compared to last year, although it is still 26% higher than in August 2019, before the pandemic, according to the data on the labor situation published yesterday by the Balearic Govern. In total, the Pitiusas ended August with a total of 4,758 people enrolled in the SOIB lists, 4,416 less than 12 months ago, at the height of the pandemic. Of course, a total recovery of the labor market has not yet occurred: there are still almost a thousand (984) unemployed more than 24 months ago, when only 3,774 were registered. It would be required to go back to 2016 to find such a high number of unemployed people.
By islands, Ibiza accounts for 4,578 unemployed, 48.5% less in year-on-year terms (-4,306 compared to 2020), while in Formentera the figure reached 180 people, almost 38% less than a year earlier (-110). These data already show the effects of economic recovery after the collapse a year ago and encourage us to think that, if nothing goes wrong, the pre-pandemic figures will be recovered soon .
This momentum in the labour market can be seen in all sectors of the economy. Ibizan construction, for example, has reduced its unemployment line by almost 32% in just one year. The hotel and catering industry has fared better, with a 66.7% reduction, closely followed by commerce (-47.9%). In Formentera the same has occurred, although with different percentages: -17.7% in construction; -32% in the hotel industry and -19% in commerce.
On the rest of the Balearic Islands only Menorca has better data (-39.2%) than Formentera regarding the reduction of unemployment, while Mallorca, at the bottom, reduced it by 31.5%.
At the same time, and as an effect of the recovery of the economy thanks to the arrival of tourists, the number of contracts have multiplied. In the Pitiusas 6,346 were signed, 37.3% or 1,725 more than in 2020, but still 18% below those in 2019 (1,382 less). Of these, 5,869 were to work in Ibiza (39%) and 477 in Formentera ( 19.3%). Employment also grew in Mallorca (69.8%) and Menorca ( 38.8%) compared to 2020.
As for the number of job seekers, the figure fell significantly on Formentera (-64.5%) and Ibiza (-58.9%). On the former there are 466 applicants, 846 less than a year ago: On the largest of the Pitiusas, 11,297, which are 16,182 less than a year ago but more than double that in 2019 (5,513).
Rise in affiliations
According to the Minister of Economic Model of the Govern, Iago Negueruela, these figures “confirm the suitability of the strategy initiated months ago and that has led to the Balearic Islands to top the tourism statistics in Spain, something that has had a knock-on effect on employment”. He also stressed that in August the archipelago recorded “the fourth best data in the historical series in Social Security registrations. In the case of Ibiza in July (the last month for which there is information) 77,045 members were counted, about 9,000 more than a year earlier, but still 9,000 less than in 2019. In Formentera there were 6,522, some 700 more in year-on-year terms, but below the 6,904 of 2019.
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