Cyprus Mail
Business Cyprus

Unemployment drops in May

Archive photo outside the unemployment office

Unemployment in Cyprus dropped to 15.3 per cent year-on-year in May, from 15.9 per cent, the European statistical service Eurostat said on Tuesday.

On a montly basis, unemployment declined by 0.2 percentage points compared with 15.5 per cent in April, registering its second consecutive reduction in 2014.

In absolute numbers, the number of unemployed persons dropped to 64,000 from 65,000 in April this year and 69,000 in May 2013.

Euro area unemployment reached 11.6 per cent in May and EU-wide unemployment stood at 10.3 per cent.



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