Cyprus Mail

Jobless rate continues to rise

THE jobless rate in Cyprus rose in February to 16.7 per cent, one of the highest annual increases in the European Union, the bloc’s statistical service, Eurostat, said on Tuesday.
The rate of unemployment in Cyprus rose from 14.7 per cent to 16.7 per cent, or 74,000, in February, Eurostat said, as the number of jobless increased in 11 member states, fell in 15 and remained stable in Romania and Sweden.
Apart from Cyprus, the highest increases were registered in Greece (26.3 per cent to 27.5 per cent between December 2012 and December 2013), Italy (11.8 per cent to13.0 per cent) and the Netherlands (6.2 per cent to 7.3 per cent).
The largest decreases were observed in Hungary (11.2 per cent to 8.3 per cent between January 2013 and January 2014), Latvia (13.8 per cent to 11.6 per cent between the fourth quarters of 2012 and 2013), Portugal (17.5 per cent to 15.3 per cent), and Ireland (13.7 per cent to 11.9 per cent).
The eurozone (EA18) seasonally-adjusted unemployment rate was 11.9 per cent in February 2014, stable since October 2013.
It was 12.0 per cent in February 2013.
The EU28 unemployment rate was 10.6 per cent in February 2014, down from 10.7 per cent in January, and 10.9 in February 2013.
Eurostat estimates that 25.9 million people EU28, of whom 18.9 in the eurozone, were unemployed in February 2014.
Compared with January 2014, the number of unemployed decreased by 65,000 in the EU28 and by 35,000 in the eurozone.
The jobless rate dropped by 619,000 in the EU28, and by166,000 in the eurozone compared with February 2013.

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