July/August unemployment worst since 2012

Covid-19 forcing bars and restaurants to close down.

27-09-2020Ultima Hora

The labour market in the Balearic Islands has gone from boom to bust in just 12 months.

In July 2019 a record 591,967 people were registered with Social Security, but a year later it’s a very different story, because of the coronavirus pandemic.

In July 2020 there were 507,973 registered with Social Security, but 86,856 of them were in ERTE, so there were only 421,317 active workers, which is one of the lowest figures ever.

In July 2010, when the economic crisis bottomed out there were 465,097 registered with Social Security, which is more than this year.

Hundreds of businesses have closed down because of the coronavirus pandemic and many others face an uncertain future.

In July and August this year the number of people out of work was the highest since 2012 and unemployment doubled year-on-year because the Tourism Sector was at a standstill and temporary workers were not taken on for the summer.

The Balearic Islands have suffered more than anywhere else in the country because of the dependency on Tourism.

CAEB

CAEB President, Carmen Planas, has said she is extremely concerned about the economy and unemployment.

“The Balearic private sector has ERTE until there is a vaccine, or, at least until the start of the next tourist season,” she said, “otherwise thousands of companies, of all sizes, in all Sectors in the Balearic Islands will close down in the coming weeks."

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James / Hace 4 months

I think there to much emphasis and hope being put on a vaccine. Something that might take years or may never be found. What happens if there is no vaccine by April 2021 do we have another year like 2020? We need to start living with this virus and if people want to shield and live in fear let them do so. And let the rest of us live and keep the economy moving.

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