CYPRUS: Unemployment stuck at 16%

The rate of unemployment rate remained steady in May, stubbornly at 16% compared to the previous month.

The euro area seasonally-adjusted unemployment rate was 11.1% in May, stable from April, and down from 11.6% in May 2014. This is the lowest rate recorded in the euro area since March 2012.
The EU28 unemployment rate was 9.6% in May, also stable compared with April and down from 10.3% in May 2014. This is the lowest rate recorded in the EU28 since July 2011, according to Eurostat.
Among EU member states, the lowest unemployment rate in May was in Germany (4.7%), and the highest in Greece (25.6% in March) and Spain (22.5%). Compared to a year ago, the unemployment rate in May fell in 22 member states, increased in five and remained stable in Cyprus. The largest decreases were in Lithuania (11.0% to 8.2%), Spain (24.7% to 22.5%) and Ireland (11.7% to 9.8%). The increases were registered in Belgium (8.4% to 8.6%), France (10.1% to 10.3%), Romania (6.8% to 7.1%), Austria (5.6% to 6.0%) and Finland (8.6% to 9.4%).