Unemployment rate drops to 10.8% in June, Eurostat says

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By Stelios Orphanides

The unemployment rate in Cyprus fell to 10.8 per cent in June from 11 per cent 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 at 20.3 per cent last month, after dropping from 24.6 per cent in April. The seasonally adjusted unemployment rate both among men and women was 10.8 per cent last month.

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

“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 per cent in May 2016 to 6.9 per cent in May 2017,” Eurostat said adding that Estonia provided no June figures. “The largest decreases were registered in Spain from 19.9 per cent to 17.1 per cent and Croatia from 13.3 to 10.6 per cent. In June 2017, the unemployment rate in the United States was 4.4 per cent, up from 4.3 per cent in May 2017 but down from 4.9 per cent in June 2016”.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]