The latest regional government economic report shows the Balearics to be the Spanish tourism region with the highest ratio of employment creation and to be the best positioned to reduce unemployment. The report compares rates of inflation, registered unemployment and registrations with social security between the Balearics and the Canaries, Catalonia, Valencia and Andalusia in July. It is a report, therefore, that focuses on the five main sun-and-beach tourism regions.
The Balearic inflation rate is 0.6%, higher than the 0.1% national average. Where unemployment is concerned, the Balearic rate is 9.7%, compared with a national 18.9%. Of those signed up to the social security system, the percentage in July was up 4.9% in the Balearics, with the Canaries and Valencia joint second with 4.4% and the national level 3.4%. Overall therefore, the drop in unemployment compared with 2014 is at its greatest in the Balearics: down 12.4%. The national average is down 8.5%.