articles | 31 July 2017

Unemployment rate drops to 10.8% in June 2017

The unemployment rate in Cyprus fell to 10.8% in June from 11% the month before and remains the fourth highest both in the euro area and the EU, the European Commission’s statistical office said.

The number of unemployed persons in Cyprus remained at 46,000 in June as in May, Eurostat said in a statement on its website on Monday. The unemployment rate among persons in the age group under 25, remained unchanged at20.3% last month, after dropping from 24.6% in April. The seasonally adjusted unemployment rate both among men and women was 10.8% last month.

The highest jobless rate in June both in the EU and the euro area was in Greece with 21.7% followed by Spain with 17.1% and Italy with 11%, Cystat said. Germany was the best performer in the euro area with 3.8%, followed by Malta and the Netherlands with 4.1% and 4.9% respectively. The lowest rate in the EU was that of the Czech Republic with 2.9%.

“Compared with a year ago, the unemployment rate fell in all member states for which data is comparable over time, except Estonia which showed an increase from 6.5% in May 2016 to 6.9% in May 2017,” Eurostat said adding that Estonia provided no June figures. “The largest decreases were registered in Spain from 19.9% to 17.1% and Croatia from 13.3% to 10.6%. In June 2017, the unemployment rate in the United States was 4.4%, up from 4.3% in May 2017 but down from 4.9% in June 2016”.

Source: Cyprus Mail

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