Mallorca Registered the Lowest Unemployment Rate in the Whole Country

Following the beginning of the economic crisis that hit the European countries, Spain struggled with high levels of unemployment. However, in the last years, the policies on the matter have provided solid results, and the employment rate is increasing at a steady rate. More importantly, certain Spanish regions, such as Mallorca, hit record employment levels. In this particular case, the employment rate is higher than the rate registered before the economic crisis, reaching a historic number of employees, a situation that has not been yet achieved by other regions of the country. 

Employment level in Mallorca, historic record in June 2018 

Currently, Mallorca registers a total of 568,689 employees, which represents the highest number ever recorded here. In terms of unemployment, the region accounts for only 37,000 persons, but it is important to know that the employment rate is expected to grow in the following months thus, diminishing the number of unemployed persons. Our team of lawyers in Spain can provide in-depth information on the employment regulations available in Mallorca.
Another important aspect concerning employment in Mallorca is that the number of full time contracts and permanent contracts increased, a positive aspect for the stability of the employment market. At the same time, the total number of part-time and temporary contracts decreased and our team of Spanish lawyers can offer in-depth advice on the advantages of each type of employment contract. 

Lower unemployment rate in 2019

The unemployment rate in the region of the Ballearic Islands (with the capital in Palma de Mallorca) could reach 7.8% in 2019, setting up a new record. It is important to know that at the level of 2017, the region registered an unemployment rate of 12.5%, below the national rate of 17.2%. 

Other top employment regions in Spain  

Investors who want to open a business in Spain should also know that, besides Mallorca, other Spanish regions have provided very good results in terms of employment. In this sense, the highest employment levels are met in the following:
Pozuelo de Alarcon, Madrid;
Sant Cugat del Valles, Barcelona
These two regions have a low unemployment rate, situated at 8% and 8.9%, respectively. 
Businessmen who want to invest in these regions are invited to contact our law firm in Spain for in-depth information on this matter.