Local
articles | 01 March 2016

Cyprus unemployment falls to 15.3% in January 2016

The unemployment rate in Cyprus fell to 15.3% in January 2016, down from 15.7% in December 2015.

However, this figure means the island has among the highest rates of unemployment in the EU, lower only than Greece (24.6%), Spain (20.5%) and Croatia (16.4%), according to Eurostat figures, released recently.

The figure accounts for 64,000 unemployed individuals, down from 66,000 in December, out of whom 11,000 were under 25 (in December) and at least 15,900 women.

At the same time the euro area (EA19) seasonally-adjusted unemployment rate was recorded at 10.3% in January 2016, down from 10.4% in December 2015, and from 11.3% in January 2015. This is the lowest rate recorded in the euro area since August 2011.

The EU28 unemployment rate was 8.9% in January 2016, down from 9.0% in December 2015, and from 9.8% in January 2015. This is the lowest rate recorded in the EU28 since May 2009.

Among the Member States, the lowest unemployment rates in January 2016 were recorded in Germany (4.3%), the Czech Republic (4.5%), Malta and the United Kingdom (both 5.1%, November data for the UK).

Source: Cyprus Mail

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