It appears that the tourist season has finally got underway and is the driving force behind the sharp drop in the number of people out of work.
Palma.—Last month, the number of people officially registered as out of work in the Balearics fell by 7,952, 10.49 percent, in comparison to April, the sharpest monthly fall in Spain, and compared to May last year, the number of unemployed was 8,287, 10.89 percent fewer.
The drop means that the total number of unemployed at the end of May was 67,837 and that figure is expected to fall again this month with the majority of the new jobs being created in the tourist sector.
The figures were welcomed by the Balearic Government and the Balearic Confederation of Business Associations.
The Balearic Finance Minister, Joaquin Garcia said yesterday that the latest figures are the clearest indication yet that the Balearic economy is starting to grow again and that “it is turning a corner” after years of recession.