Unemployment in the Canary Islands reaches 2008 levels with a drop of 1,400 people in MayISTAC figures reveal that registered unemployment in the Canary Islands stood at 166,064 people in May 2024, the lowest since 2008. This reduction is due to a series of monthly decreases since April 2022, when unemployment fell below 200,000 people, with a total balance of 35,700 fewer people unemployed.
The downward trend is observed in both men and women, and in all age groups except those between 45 and 49 years old, where unemployment remains stable. Young people under 25 years of age experienced the largest decrease, with a change rate of -5.6%.
The decrease in unemployment has occurred on all the islands, except on La Palma, where a slight increase of less than 1% was recorded. Regarding economic sectors, there is also a general decrease in unemployment. In addition, the group of people looking for their first job also decreased by around 1.5%.
These positive figures confirm the recovery of the labor market in the Canary Islands and place unemployment at levels similar to those of 16 years ago.
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