articles | 03 July 2020

Cyprus jobless rate climbed to 10.2% in May

Still suffering from Covid-19 lockdown measures, Cyprus unemployment rose to 10.2% in May, higher than the 7.3% average across the EU, official figures showed on Thursday.

In Cyprus unemployment increased to 10.2% in May (9.7 for men and 10.8% for women) with 47,000 people out of work.

This was an increase from 8.9% jobless rate in April when 41,000 were registered unemployed.

Unemployment among women was higher at 10.8% from 9.4% in April while the male jobless rate in May was 9.7% up from 8.5% the month before.

The latest available figure for Cyprus youth unemployment is 13.4% for March (5000 individuals).

For Greece, the latest available unemployment rate is 14.4% for March (654,000) down from 15.9% in February (733,000). Youth unemployment was 32.4% (67,000).

In May, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in April while the EU unemployment rate was 6.7% up from 6.6%.

Eurostat estimates that 14.366 million men and women in the EU were unemployed in May.

Compared with April, the number of unemployed increased by 253,000 in the EU and by 159 000 in the euro area.

In May 2020, 2.815 million young persons (under 25) were unemployed in the EU, of whom 2.267 million were in the euro area.

Youth unemployment was 15.7% in the EU and 16% in the euro area, up from 15.4% and 15.7% respectively in the previous month.

Compared with April, youth unemployment increased by 64,000 in the EU and by 42,000 in the euro area.

The unemployment rate for women was 7.2% in the EU, up from 6.9% in April.

Unemployment for men was 6.4% in May, stable compared with April.

In the euro area, the unemployment rate for women increased from 7.7% in April to 7.9% in May while it remained stable at 7.0% for men.

Source: Financial Mirror

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