Cyprus Mail

Unemployment rate seen at 14.1 per cent in January, Eurostat says

Cyprus’s unemployment rate was unchanged at 14.1 per cent in January with the number of unemployed remaining at 61,000 as in December, the European Union’s statistical office said.

The unemployment rate among men was in January 14 per cent while that among women was 14.3 per cent, Eurostat said in a statement on its website on Thursday. The unemployment rate among people under 25 was 32.8 per cent in December, which is the most recent available value.

Eurostat said that Cyprus’s January unemployment rate rose by 1 percentage point in a year, from 13.1 per cent in January 2016.

Eurostat’s data on Cyprus, which significantly differs from the January registered unemployed figure announced by Cystat on February 3, as well as the latest results of the third quarter labour force survey, also released by Cystat on December 23, are subject to revision. According to the Cystat figures, the number of registered unemployed fell in January an annual 6.8 per cent to 42,839, while the number of unemployed, as per labour force survey, fell in the third quarter 11 per cent to 55,573. The jobless rate fell from 14.8 per cent in July to September 2015 to 13 per cent in the respective quarter of 2016.

The unemployment rate in the EU fell to 8.1 per cent in January from 8.2 per cent in December while that in the euro area remained unchanged at 9.6 per cent, Eurostat said.

The lowest unemployment rate in the euro are was in Germany, Malta and the Netherlands with 3.8 per cent, 4.4 per cent and 5.3 per cent respectively, while the highest was in Greece with 23 per cent, Spain with 18.2 per cent and Cyprus, Eurostat said.

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