The Canary Islands concluded the summer quarter with 167,800 unemployed individuals, marking an increase of 6,100 people compared to the end of May, a rise of 3.76%, as reported in the Labour Force Survey (EPA) released this Friday by the National Statistics Institute (INE).
As a result, the unemployment rate in the Canary Islands now stands at 14.40% of the active population, making it the second highest in Spain, only behind Andalusia at 16.06% and significantly above the national average of 11.21%.
Causes of Unemployment Increase
The rise in unemployment during June, July, and August in the Canary Islands is attributed to the loss of 7,900 net jobs compared to the previous quarter. This job loss was partially offset by 1,800 people leaving the “active” group, which includes individuals who either have employment or are actively seeking work.
Employment Growth Over the Past Year
Despite the recent increase in unemployment, the Canary Islands have seen a growth in employment over the past year. Currently, the Canarian economy provides jobs for 997,400 people, 25,500 more than at the end of the summer in 2023, which represents an employment increase of 2.63%. This rate of job creation surpasses the national average, where employment has grown by 1.76% over the same period.
Modest Reduction in Unemployment Over the Last Year
Although employment has increased significantly, the number of unemployed people in the Canary Islands has only decreased by 4,300 individuals, a reduction of 2.50% over the past year. This is because, while 25,500 new jobs were created, 21,200 people joined the active population, actively seeking work, which limited the overall reduction in unemployment.
Gender Disparities in Unemployment
Of the 167,800 unemployed people in the Canary Islands, 76,800 are men, and 91,000 are women. This results in a male unemployment rate of 12.52%, while the female unemployment rate is notably higher at 16.49%.
National Overview
Across Spain, the number of unemployed individuals decreased by 1,200 people in the third quarter of 2024, a 0.04% drop, bringing the total number of unemployed to 2.75 million at the end of September, according to the EPA.
Currently, 21.82 million people in Spain are employed, an increase of 138,300 since May (+0.64%) and 376,600 more than a year ago (+1.76%).
Regional Unemployment Rates
The national unemployment rate is now 11.21%. Andalusia (16.06%), the Canary Islands (14.40%), and Extremadura (13.79%) have the highest unemployment rates in the country. In contrast, the regions with the lowest unemployment rates are the Balearic Islands (6.17%), the Basque Country (7.61%), and Navarre (7.72%).
