Menorca has continued to lose businesses and jobs over the last twelve months, though to a lesser degree than in 2009. Between November 2009 and November last year, a total of 138 businesses closed, equivalent to 4% of the island's total. In the previous year the loss was even greater, with 287 businesses disappearing (7.8%).
Sant Lluís is the municipal district that has been the hardest hit, losing 9.9% of its firms (44) in the last twelve months, which is one in every ten. In contrast, Ferreries has seen little change, only one business in the district closing in the last year.
There was little difference in the statistics for the two largest towns on the island; the number of businesses in Maó dropping by 4% and in Ciutadella by 3.5% in the year to November 2010.
As the number of companies on the island continues to drop, so does the number of jobs available. In the twelve months to last November the number of people employed fell by 1,061, a decrease of 5.6%. This figure, too, was lower than for the previous year which saw a drop of 8.2% in the working population.
Unsurprisingly, in view of having seen the biggest decline in working companies, Sant Lluís also registered the largest drop in employment, 10.8%. In the past two years the municipal district has experienced a drop of 25% in the number of people employed, which means that one in every four workers lost their job during that period.
Ferreries, again, saw little change with an annual job loss of 1.2%.
In Maó and Ciutadella, the number of people out of work increased by 592 and 241 respectively over the past year.
Government aid for unemployed
The Balearic Government is to spend 24 million euros on three programmes, to begin next month, designed to help 10,000 of the region's unemployed to find jobs. Aimed specifically at youngsters and the long-term unemployed, the programmes will help by re-training for today's job market.
The first programme is in two sections and concentrates on the long-term unemployed, over 45 and with family responsibilities. The first part will benefit 3,000 unemployed by giving them a six-month contract with local Councils during which time they will combine work with training. Under the second part 1,000 unemployed will be paid a salary of 452 euros to attend training courses.
In the second programme, aimed at youngsters, the Government will offer companies financial incentives to train youngsters, give them work experience or employ them to replace personnel who are retiring. Further incentives will be paid if the youngsters are later employed by the firm.
In the third programme, Government advisers will act as go-betweens for the unemployed and businesses.