ISSUE NO. 1561
4 - 10 June 2015
MALLORCA
YOUR PAPER, YOUR VOICE, YOUR OPINION
WWW.EUROWEEKLYNEWS.COM
More good news for the islands…
Chris Goldberg Flickr
Leading the way to economic recovery BALEARICS top the list for the biggest fall in unemployment By Maria José Fernandez The Balearic Islands are leading the rest of Spain out of recession with the biggest drop in the jobless rate in the country. Driving the recovery in the jobs market has been the construction sector with 14.9 per cent more people paying into the social security system. The hotel industry workforce grew by 6.2 per cent in terms
of new contracts with the industry growing by 4.6 per cent. The Balearics saw the highest monthon-month decrease in the unemployment rate in Spain and was second on the list year-on-year. The total number of out-of-work residents registered at the region’s Employment Service Office (SOIB) decreased in May by 7,924 people, which represents
an 11.87 per cent reduction on April, according to the Employment and Social Security Ministry. The number of jobless in the Balearic Islands totals 58,832 people, the fewest since May 2009. The year-to-year unemployment figures fell by 9,005, or 13.27 per cent. This means that there have now been 31 consecutive months of reductions.
THE number of businesses going bust in the Balearic Islands has decreased by 21.28 per cent between January and May of 2015, compared to the same period of the previous year. In total, 74 businesses went into insolvency, according to statistics released by specialist company Axesor. In national terms, bankruptcies of corporations also saw a decrease of 12.27 per cent, for a total of 479, registering 19 consecutive months of reductions. The news comes hot on the heels of improved economic figures for growth which beat expectations.