The latest extension to ERTE is until the end of February 2022.
During last April's peak, the scheme supported some 3.6 million Spaniards.
The programme, which currently supports almost 560,000 workers, was due to expire on May 31.
An extension of three to four months anticipated.
4.5% of Spain's workers on ERTE are in the Balearics.
Getting on for 34,000 workers in the Balearics were on ERTE in March.
Spain's employment minister: "It would make no sense to drop it now."
Employment offices in Mallorca reopened in mid-June last year.
Agreement on ERTE extension to end-May is expected this week.