Cyprus & World News

CYPRUS: Unemployment drops further

02 August, 2017

Seasonally adjusted unemployment declined to 10.8% in June, down from 11% in May and 12.9% in June 2016, according to Eurostat. More specifically the unemployed in Cyprus were 46,000 individuals, down from 54,000 a year ago, 7,000 of which aged under 25 (or 20.3% - unchanged since May and down from 29% or 10,000 individuals in June 2016). Cyprus has the fourth largest percentage in the EU, followed closely by Croatia (10.6%) and France (9.6%).

Meanwhile, the euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in June, down from 9.2% in May and down from 10.1% in June 2016. This is the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate was 7.7% in June, stable compared to May and down from 8.6% in June 2016.
This remains the lowest rate recorded in the EU28 since December 2008.
Among the Member States, the lowest unemployment rates in June were in the Czech Republic (2,9%), Germany (3.8%) and Malta (4.1%). The highest unemployment rates were in Greece (21.7% in April 2017) and Spain (17.1%). Compared with a year ago, the unemployment rate fell in all member states, except Estonia which showed an increase (from 6.5% in May 2016 to 6.9% in May 2017). The largest decreases were in Spain (from 19.9% to 17.1%) and Croatia (from 13.3% to 10.6%).