Palma.—There were 1'753 people unemployed in the Balearics last month, a downturn of 2.27 percent in relation to the previous month of June. The figures compare favourably against the drop in unemployment at a national level where jobless figures declined by just 0.60 percent, Central Government's Minister for Employment and Social Security reported yesterday.

But in month-on-month terms, the drop in unemployment in the Balearics came third after declines in the number of jobless of -5.784% in Cantabria and of -3.35% in Galicia. There are now 75'524 people registered at Job Centres in the Balearics, the minstry claimed.

The Balearics has had six consecutive months of a downturn in unemployment since February this year although the decline in July was less noticeable than in previous months.

In June, for example, unemployment fell by -6.35% compared to figures for May.
The year-on-year growth of unemployment in the Balearics last month (6.4%) was almost half the figure registered at a national level (12.44%). Analysed according to Island increased unemployment over the year has been highest on Minorca where it has risen by +14.56%, followed by Ibiza (9.6%), Formentera (+7.06%) and Majorca (+5.38%). In Spain as a whole, there remain 4'587'455 people registered as unemployed even though 27'814 found jobs last month.

Economic growth
Meanwhile, the Balearic government said yesterday that it will continue to work to gradually bring down the level of unemployment with the new Central Government delegate in Palma, Teresa Palmer saying at a press conference yesterday that the region is maintaining its forecast growth of 0.2 percent of gross regional product (PIB).

However, Josep Oliver, the President of the Balearic Business Confederation (CAEB) challenged Palmer's assumptions by saying that owing to the latest set of cuts and austerity measures introduced by Central and regional Governments, economic growth for the rest of this year will be a negative figure hovering between -0.5 and -1 percent.

He claimed that the increase in the level of VAT and government workers having to give up their Christmas bonuses will mean that ordinary people “won't be spending liberally” over the winter holiday period. His predictions were even more pessimistic than those of the Centre for Economic Research (CRE) which calculates a negative growth figure in 2012 of -0.3%.


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