05-01-2015REUTERS

By Humphrey Carter

The steady decline of the number of people out of work in the Balearics has given the local government reason to claim that the worst of the recession is over.

Palma.—Yesterday, the Ministry for Employment and Social Security, reported that, at the end of last year, there were 83,560 people officially registered as out of work in the Balearics - 7,655 or 8.39 percent fewer than at the close of 2013.
And, according to the Balearic government, the number unemployed has fallen consecutively for 26 months, giving the government good reason to be cheerful.
According to the Minister for Finance, Joaquin Garcia, last year witnessed the sharpest fall in the number of people out of work in the Balearics  since 1996. At it was a similar scenario at a national level.
Jobless numbers fell sharply in 2014, posting the largest national annual drop in the number of unemployed since 1998, an indication that solid job creation and a still significant - albeit reduced - net emigration of working-age residents are contributing to a faster-than-anticipated improvement in the outlook for the country’s labour market.

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