articles | 06 April 2016

Cyprus has biggest drop in unemployment in EU

Cyprus registered the highest year-on-year decrease in unemployment in February 2016, the European statistical service Eurostat said recently.

Compared with a year ago, the unemployment rate in February 2016 fell in twenty-four member states, and the largest decreases were registered in Cyprus – from 16.6% to 12.6% – Spain, from 23.2% to 20.4%, andBulgaria 7.4% from 9.8%.

In Cyprus, 52.000 people were unemployed in February 2016.

In the euro area (EA19) the seasonally-adjusted unemployment rate was 10.3%, down from 10.4% the previous month, and 11.2% in February 2015.

This is the lowest rate recorded in the euro area since August 2011.

The EU28 unemployment rate was 8.9% in February 2016, stable compared with January 2016, and down from 9.7% in February 2015.

This is the lowest rate recorded in the EU28 since May 2009.

Eurostat estimates that 21,651mln men and women in the EU28, of whom 16,634mln in the euro area, were unemployed in February 2016.

Compared with January 2016, the number of unemployed decreased by 59,000 in the EU28 and by 39,000 in the euro area.

Compared with February 2015, unemployment fell by 1.9mln in the EU28 and by 1.3mln in the euro area.

Source: Cyprus Mail

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