ECONOMY: Unemployment rate in Cyprus drops to 7.1%

In Cyprus the unemployment rate fell to 7.1% in February to 32,000, down from 7.3% in January 2019 and 9.4% a year ago.

Cyprus also recorded the second largest annual decrease in unemployment in the EU with jobless rate among men 7% during February and 7.2% for women, according to Eurostat.

In Greece the jobless rate was 18% in December 2018 (latest available data) and 20.8% in December 2017.

The euro area (EA19) seasonally-adjusted unemployment rate was 7.8% in February, stable compared with January and down from 8.5% in February 2018. This remains the lowest rate recorded in the euro area since October 2008.

The EU28 unemployment rate was 6.5% in February, stable compared with January 2019 and down from 7.1% in February 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 16.012 million men and women in the EU28, of whom 12.730 million in the euro area, were unemployed in February.

Compared with January 2019, the number of persons unemployed decreased by 102,000 in the EU28 and by 77,000 in the euro area. Compared with February 2018, unemployment fell by 1.469 million in the EU28 and by 1.169 million in the euro area.

Among the Member States, the lowest unemployment rates in February were recorded in Czechia (1.9%), Germany (3.1%) and the Netherlands (3.4%).

The highest unemployment rates were observed in Greece (18.0% in December 2018), Spain (13.9%) and Italy (10.7%). Compared with a year ago, the unemployment rate fell in all Member States except Denmark and Austria where it remained stable.

The largest decreases were registered in Greece (from 20.8% to 18.0% between December 2017 and December 2018), Cyprus (9.4% to 7.1%), Spain (16.2% to 13.9%) and Estonia (6.4% to 4.2% between January 2018 and January 2019).

In February 2019, the unemployment rate in the United States was 3.8%, down from 4.0% in January 2019 and from 4.1% in February 2018.

In February 3.309 million young persons (under 25) were unemployed in the EU28, of whom 2.337 million were in the euro area.

Compared with 2018, youth unemployment decreased by 222,000 in the EU28 and by 181,000 in the euro area.

In February 2019, the youth unemployment rate was 14.6% in the EU28 and 16.1% in the euro area, compared with 15.7% and 17.7% respectively in February 2018.

The lowest rates were observed in Germany (5.6%), Czechia (6.0%) and the Netherlands (6.4%), while the highest were recorded in Greece (39.5% in December 2018), Italy (32.8%) and Spain (32.4%).

Youth unemployment was 20.2% in Cyprus for December 2018 (latest available data) and 39.5% in Greece for the same month.

Source: The Financial Mirror

ECONOMY: Unemployment rate in Cyprus drops to 7.1%

In Cyprus the unemployment rate fell to 7.1% in February to 32,000, down from 7.3% in January 2019 and 9.4% a year ago.

Cyprus also recorded the second largest annual decrease in unemployment in the EU with jobless rate among men 7% during February and 7.2% for women, according to Eurostat.

In Greece the jobless rate was 18% in December 2018 (latest available data) and 20.8% in December 2017.

The euro area (EA19) seasonally-adjusted unemployment rate was 7.8% in February, stable compared with January and down from 8.5% in February 2018. This remains the lowest rate recorded in the euro area since October 2008.

The EU28 unemployment rate was 6.5% in February, stable compared with January 2019 and down from 7.1% in February 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 16.012 million men and women in the EU28, of whom 12.730 million in the euro area, were unemployed in February.

Compared with January 2019, the number of persons unemployed decreased by 102,000 in the EU28 and by 77,000 in the euro area. Compared with February 2018, unemployment fell by 1.469 million in the EU28 and by 1.169 million in the euro area.

Among the Member States, the lowest unemployment rates in February were recorded in Czechia (1.9%), Germany (3.1%) and the Netherlands (3.4%).

The highest unemployment rates were observed in Greece (18.0% in December 2018), Spain (13.9%) and Italy (10.7%). Compared with a year ago, the unemployment rate fell in all Member States except Denmark and Austria where it remained stable.

The largest decreases were registered in Greece (from 20.8% to 18.0% between December 2017 and December 2018), Cyprus (9.4% to 7.1%), Spain (16.2% to 13.9%) and Estonia (6.4% to 4.2% between January 2018 and January 2019).

In February 2019, the unemployment rate in the United States was 3.8%, down from 4.0% in January 2019 and from 4.1% in February 2018.

In February 3.309 million young persons (under 25) were unemployed in the EU28, of whom 2.337 million were in the euro area.

Compared with 2018, youth unemployment decreased by 222,000 in the EU28 and by 181,000 in the euro area.

In February 2019, the youth unemployment rate was 14.6% in the EU28 and 16.1% in the euro area, compared with 15.7% and 17.7% respectively in February 2018.

The lowest rates were observed in Germany (5.6%), Czechia (6.0%) and the Netherlands (6.4%), while the highest were recorded in Greece (39.5% in December 2018), Italy (32.8%) and Spain (32.4%).

Youth unemployment was 20.2% in Cyprus for December 2018 (latest available data) and 39.5% in Greece for the same month.

Source: The Financial Mirror