Cyprus Mail
Business Cyprus

Jobless rate seen at 11.3% in December, Eurostat says

The rate of unemployment in Cyprus rose on a monthly basis in December to 11.3 per cent, from un upwards revised 11.1 per cent in November, the European Commission’s statistical service said.

The number of unemployed in December was 49,000, Eurostat said in a statement on its website. In December 2016, the unemployment rate was 12.8 per cent.

Unemployment among youths in September, which was the latest available figure for Cyprus, was marginally revised upwards to 25 per cent, Eurostat said.

The average unemployment rate in December in the European Union and the euro area was 8.7 per cent and 7.3 per cent respectively, Eurostat said. Cyprus’s jobless ratio was the third highest in both the European Union and the euro area, beating Italy’s 10.8 per cent. Greece and Spain had the highest unemployment rates with 20.7 per cent and 16.4 per cent respectively.

The lowest unemployment ratio in the EU was that of the Czech Republic with 2.3 per cent, followed by the 3.6 per cent rate in Germany and Malta, and Hungary’s 3.9 per cent, according to Eurostat.

The unemployment ratio in Cyprus among males and females in December was 11.1 per cent and 11.4 per cent respectively, Eurostat said.

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