Cyprus Mail
Business Cyprus

Unemployment drops further in August

Unemployment office in Larnaca (file photo)

Unemployment in Cyprus fell to 15.4 per cent in August, the fourth consecutive drop, the EU’s statistical service Eurostat said on Tuesday.

In July, the jobless rate was 15.7 per cent, Eurostat said.

It dropped to 15.4 per cent in August or 67,000 people, compared with 72,000 or 16.6 per cent in august 2013.

Unemployment among men was 16.9 per cent and women 13.9 per cent, the service said.

The jobless rate among youths – under 25 – was 37.1 per cent in June, or 16,000 people.

The euro area (EA18) seasonally-adjusted unemployment rate was 11.5 per cent in August 2014, stable compared with July 2014, but down from 12.0 per cent in August 2013.

The EU28 unemployment rate was 10.1 per cent in August 2014, the lowest value since February 2012. The rate was down from 10.2 per cent in July 2014, and from 10.8 per cent in August 2013.

Eurostat estimates that 24.6 million men and women in the EU28 –18.3 million in the euro area — were unemployed in August 2014.

Compared with July 2014, the number of unemployed people decreased by 134,000 in the EU28 and by 137,000 in the euro area.

Compared with August 2013, unemployment fell by 1.7 million in the EU28 and by 834, 000 in the euro area.

 

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