Cyprus Mail
Business Cyprus

Unemployment rate rises but lower than 2016

By Stelios Orphanides

The unemployment rate fell to 11 per cent in November from 13.1 per cent in November 2016 but rose from 10.5 per cent in October 2017, said Eurostat.

Cyprus’ unemployment rate was the third-highest, with Italy’s, in both the European Union and the Eurozone in November, the Eurostat website said. The average jobless rate in the EU was 7.3 per cent and in the Eurozone 8.7 per cent, down from 7.4 per cent and 8.8 per cent respectively in October.

The seasonally adjust number of unemployed in November was 47,000 in Cyprus, compared to 45,000 in October and 55,000 in November 2016, Eurostat said. In November, the unemployment rate among male workers was 10.9 per cent and 11.2 per cent among females. The youth unemployment rate was 24.9 per cent and related to September.

The highest unemployment rate in the EU was Greece’s at 20.5 per cent followed by Spain’s 16.7 per cent. The lowest was the Czech Republic’s 2.5 per cent followed by that of Germany and Malta, both at 3.6 per cent.

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