Record August employment in the Balearics

Balearic minister for the economic model, tourism and employment, Iago Negueruela (right)

Iago Negueruela (right) and the director-general for employment, Llorenç Pou, on Friday. | Govern de les Illes Balears

Andrew EdePalma02/09/2022 17:10
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In August, the number of people signed on for work with social security in the Balearics topped 600,000 for the first time - 606,422. As well as a first for the month of August, employment kept pace with July, which is typically the month when there is highest employment. Unemployment was up two per cent compared with July, but an unemployment rate of 5.5% remained the same; 35,758 people were unemployed last month.

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Pointing to the fact that 63% of employment contracts in August were permanent, compared with 15% a year ago, the minister for the economic model, tourism and employment, Iago Negueruela, said on Friday that "the paradigm of our economy has changed".

For the minister, the employment data and the increase in tourist spending, which was reported on Thursday, justify salary increases. "We must better distribute the wealth that is being generated. We are in a situation where it is possible to improve the situation of the workers and not just in the quality of hiring. It is now time to increase wages and enable a better distribution of wealth."

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