The 2024 labour market report published on Monday by the Balearic Government's employment observatory shows that the average monthly salary in the Balearics last year was 2,254.90 euros gross, two per cent below the national average of 2,301.80 euros.
The islands therefore remained in the lower part of the national salary rankings, which is where the region has been for years. This was despite an average salary increase of 4.8%, the fifth highest in the country.
One increase for this year, which is due to be formally signed on Tuesday, is for the hospitality industry - six per cent for 2025. In 2024, according to the report, there were 41 other collective bargaining agreements. These related to just over 200,000 workers. The average salary increase under these agreements was 3.2%, almost exactly the same as the national figure (3.1%).
The report compares salary increases with rates of inflation. From 2018 to 2020, the increases were above the inflation rate, as they were in 2023 and 2024. Inflation exceeded pay rises in 2021 and 2022.
As for working hours, the report indicates that these were higher in the Balearics than anywhere else in the country - 134.80 hours per month. Madrid was second with 131.30 and the Canaries third (129.80).