Eurostat: Unemployment increases to 7.7% in Cyprus for November 2019, record low levels in the EU

The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in November 2019, stable compared with October 2019 and down from 7.9% in November 2018. This remains the lowest rate recorded in the euro area since July 2008, according to data released today by Eurostat, the statistical service of the EU.

The EU28 unemployment rate was 6.3% in November 2019, stable compared with October 2019 and down from 6.6% in November 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

In Cyprus unemployment increase to 7.7% (6.9% for men and 9.1% for women) or 35 000 individuals in November 2019, from 7.3% and 33 000 individuals in October 2019 and also 7.5% in November 2018.

Eurostat estimates that 15.582 million men and women in the EU28, of whom 12.315 million in the euro area, were unemployed in November 2019. Compared with October 2019, the number of persons unemployed increased by 34 000 in the EU28 and decreased by 10 000 in the euro area. Compared with November 2018, unemployment fell by 768 000 in the EU28 and by 624 000 in the euro area.

Among the Member States, the lowest unemployment rates in November 2019 were recorded in Czechia (2.2%), Germany (3.1%) and Poland (3.2%). The highest unemployment rates were observed in Greece (16.8% in September 2019) and Spain (14.1%). Compared with a year ago, the unemployment rate fell in 20 Member States, remained stable in the Netherlands and Portugal, while it increased in Luxembourg (from 5.4% to 5.5%), Slovenia (from 4.4% to 4.6%), Czechia (from 2.0% to 2.2%), Cyprus (from 7.5% to 7.7%), Sweden (from 6.5% to 6.9%) and Lithuania (from 5.8% to 6.4%). The largest decreases were registered in Greece (from 18.8% to 16.8% between September 2018 and September 2019), Bulgaria (from 4.8% to 3.7%), Estonia (from 5.3% to 4.2% between October 2018 and October 2019) and Croatia (from 7.5% to 6.5%). In November 2019, the unemployment rate in the United States was 3.5%, down from 3.6% in October 2019 and from 3.7% in November 2018.

In November 2019, 3.222 million young persons (under 25) were unemployed in the EU28, of whom 2.258 million were in the euro area. Compared with November 2018, youth unemployment decreased by 111 000 in the EU28 and by 89 000 in the euro area. In November 2019, the youth unemployment rate was 14.3% in the EU28 and 15.6% in the euro area, compared with 14.8% and 16.3% respectively in November 2018. In November 2019, the lowest rates were observed in Czechia (5.2%), Germany (5.9%) and Bulgaria (7.0%), while the highest were recorded in Greece (32.5% in the third quarter of 2019), Spain (32.1%) and Italy (28.6%).

Source: Cyprus News Agency