Tenerife clearly leads in the generation of employment in the past year in Canary Islands with nine out of ten new contracts signed between the first quarter of 2023 and the same period in 2024. Of the 25,000 signed contracts, a 27% increase (5,524), account for 91% of the total in the Archipelago. Additionally, the Island reduces the unemployment rate by five points – 6,000 individuals – dropping from 19.52% to 14.9%. These figures, according to the President of the Island Council, Rosa Dávila “show our leadership thanks to a strong economic dynamic in which employment policies play a fundamental role”. This was highlighted after the Island’s Government Council meeting held yesterday. These statistics, stemming from the Active Population Survey (EPA) corresponding to the first quarter of this year, reflect, added Dávila, “the dynamism of the labour market on our Island”.
In the Canary Islands, the number of employed individuals increased from 949,430 (first quarter 2023) to 996,200 (first quarter 2024), which represents a growth of 46,770 people. Out of this figure, 91% are attributed to Tenerife (42,670), which drives employment. In Gran Canaria, the number of employed individuals in the first quarter of 2023 was 390,880 and in this year’s first quarter, it stood at 390,450. In other words, the number of unemployed individuals remains unchanged.
Regarding unemployment, Dávila reported that, in just one year, it decreased in Tenerife by nearly 6,000 individuals, an 8% decrease compared to April 2023.
On the other hand, the Vice President of the Tenerife Island Council, Lope Afonso emphasised the strength of the Island’s economy, reflecting in Tenerife having the lowest historical unemployment rate, even going below the average unemployment rate recorded in the Islands, at 19.52% compared to the overall 14.88%.
The dynamism of the labour market in Tenerife translates into the number of signed contracts, 25,000; which is 1,933, representing a 27% increase, in just one year. The figure is 5,524 more contracts in terms of year-on-year data.
The registered unemployment figure in the Canary Islands stands at April 2024 and 167,468 individuals, following a rise of 2,424 from the previous month. In Tenerife, there were 71,793 unemployed individuals, an increase of 811 compared to March. As for the year-on-year rate, unemployment decreased by 5,525 individuals, which represents a 7.67% drop.
The number of Social Security contributors is 431,739 individuals. In April, it grew by 0.40%, with an additional 1,757. When comparing the data from a year ago, contributions have increased by over 3.63%, with a total of 15,116 new contributors in this analysed period.
Using data from the Canary Islands Statistical Institute (Istac) updated on April 26th, Tenerife reduced its unemployment rate by five points over the past year. Thus, in the first quarter of 2023, it was 19.52%, and in 2024, it dropped to 14.09%. In comparison with Gran Canaria, which has a similar population, unemployment dropped by over four points in the last year. In the neighbouring island, in the first quarter of 2023, it was 15.87% compared to Tenerife’s 19.52%. In the first quarter of 2024, Gran Canaria stands at 15.80% (almost the same), while Tenerife decreased to 14.09%.
Therefore, the number of employed individuals in Tenerife in the first quarter of 2023 was 381,000, while in 2024, it increased to 423,670, showing an increment of 42,670 individuals. In the Canary Islands, the number of employed individuals increased from 949,430 (first quarter 2023) to 996,200 (first quarter 2024), indicating an increase of 46,770.
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Out of the total figure, 91% of new contracts belong to Tenerife (42,670), while in Gran Canaria, it is practically the same, “evidently showing that our Island drives employment” summarises Rosa Dávila.
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