The seasonally adjusted unemployment rate in Cyprus dropped in June 2023 compared to June 2022, while remaining stable compared to May this year, according to figures published by Eurostat, the statistical service of the EU. Unemployment in Cyprus stood at 4.8% in June 2023, remaining stable compared to May, but having dropped compared to June 2022 when the indicator stood at 7.3%. In absolute numbers, there were 23 thousand unemployed in Cyprus in June this year, compared to 35 thousand in June 2022. Meanwhile, the eurozone unemployment rate was 6.4%, stable compared with May 2023 and down from 6.7% in June 2022. The EU unemployment rate was 5.9% in June 2023, also stable compared with May 2023 and down from 6.1% in June 2022. Eurostat estimates that 12.802 million persons in the EU, of whom 10.814 million in the eurozone, were unemployed in June 2023. Compared with May 2023, unemployment decreased by 2 thousand in the EU and by 62 thousand in the eurozone. Compared with June 2022, unemployment decreased by 387 thousand in the EU and by 441 thousand in the eurozone. Youth unemployment ———– In June 2023, 2.739 million young persons (under 25) were unemployed in the EU, of whom 2.204 million were in the eurozone. In June 2023, the youth unemployment rate was 14.1% in the EU and 13.8% in the eurozone, respectively up and down from 14.0% recorded in both regions in the previous month. Compared with May 2023, youth unemployment increased by 28 thousand in the EU and decreased by 31 thousand in the eurozone. Compared with June 2022, youth unemployment decreased by 16 thousand in the EU and by 81 thousand in the eurozone. In Cyprus, 4 thousand young persons were unemployed in June 2023, or 10.8% of that age group. Youth unemployment remained unchanged compared to May 2023, but fell significantly compared to June 2022 (19.5% or 8 thousand persons). Unemployment highest among women —————- In June 2023, the unemployment rate for women was 6.1% in the EU, stable compared with May 2023. The unemployment rate for men was 5.7% in June 2023, also stable compared with the previous month. In the eurozone, the unemployment rate for women was 6.7% and the unemployment rate for men was 6.1%, both stable compared with May 2023. In Cyprus, unemployment among women in June was at 5.6% (higher compared with 5.5% in May) and at 4.1% among men (lower compared with 4.3% in May).
Source: Cyprus News Agency