Cyprus Mail

Cyprus has biggest drop in unemployment in EU

One of the main drivers of the strong economic outlook is the ongoing improvements in the domestic labour market

Cyprus registered the highest year-on-year decrease in unemployment, the European statistical service Eurostat said on Monday.
Compared with a year ago, the unemployment rate in February 2016 fell in twenty-four member states, and the largest decreases were registered in Cyprus – from 16.6 per cent to 12.6 per cent – Spain, from 23.2 per cent to 20.4 per cent, and Bulgaria 7.4 per cent from 9.8 per cent.
In Cyprus, 52.000 people were unemployed in February 2016.
In the euro area (EA19) the seasonally-adjusted unemployment rate was 10.3 per cent, down from 10.4 per cent the previous month, and 11.2 per cent in February 2015.
This is the lowest rate recorded in the euro area since August 2011.
The EU28 unemployment rate was 8.9 per cent in February 2016, stable compared with January 2016, and down from 9.7 per cent in February 2015.
This is the lowest rate recorded in the EU28 since May 2009.
Eurostat estimates that 21,651mln men and women in the EU28, of whom 16,634mln in the euro area, were unemployed in February 2016.
Compared with January 2016, the number of unemployed decreased by 59,000 in the EU28 and by 39,000 in the euro area.
Compared with February 2015, unemployment fell by 1.9mln in the EU28 and by 1.3mln in the euro area.

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