The unemployment rate last year was 10.9%

04-09-2018Gemma Andreu

At the end of 2018 there were 556,100 people in employment in the Balearics. These were 35,700 more than a year before, an increase of 6.9%, the highest among regions of the country.

The latest Labour Force Survey, published by the National Statistics Institute, also shows that 65,600 jobs were lost in the final quarter of the year. These were losses compared with July to September and represented a 10.6% decrease.

Unemployment for the year fell by 7,000, a fall of 9.3%, and gave an unemployed number of 68,100 and an unemployment rate of 10.9%. Over the final quarter, the number of people signed on as unemployed went up by 20,200, a 42% rise over the July to September period.

National unemployment at the end of the year was 3,304,300. In employment were 19,546,600 people. In both cases, these were figures similar to those at the end of 2008. However, a rise of 566,200 people in employment was the highest since 2006.

Among specific detail in the Labour Force Survey, there were 22,700 households in the Balearics at the end of 2018 where no one was working. By contrast there were 300,100 households with at least one person or everyone in employment.

The number of young unemployed (25 or younger) at the end of the year was 990, which gave a rate of 22.7%.