Cyprus' unemployment drops in January 2015

Cyprus posted a seasonally adjusted 16.1% unemployment rate in January 2015, the fourth largest in the European Union and third largest in the euro area, down from 16.4% the month before and 15.7% a year ago, Eurostat said recently.

Average unemployment in Europe was in January 9.8% while in the euro area it was 11.2%, Eurostat said in a statement in its website today.

The highest unemployment rates in the euro area were those in Greece and Spain with almost 26%, which is the November figure, and over 23% respective, Eurostat said.

The lowest rate of people without a job were in Germany, Austria and the United Kingdom with 4.7%, 4.8% and 5.6% respectively, Eurostat said. The U.K. figure was from November.

Source: Cyprus Mail