Cyprus Mail
Business Cyprus

Jobless rate drops below 10% in January, Eurostat says

Cyprus’s unemployment rate fell to 9.8 per cent in January, from 10.3 per cent in December, hitting a single digit for the first time in six years, the European Commission’s statistical office said.

The number of unemployed in January was 42,000, down from 44,000 the previous month, Eurostat said in a statement on its website on Thursday.

The jobless rate among men in January was 9.9 per cent while that among women was 9.8 per cent. The youth jobless rate was 25.1 per cent in October, which is the latest available figure.

Despite the drop, Cyprus’s unemployment rate remained the European Union’s and euro area’s fourth highest in January, Eurostat said. The average unemployment rate in the EU and euro area remained unchanged, compared to December, at 7.3 per cent and 8.6 per cent respectively.

The highest jobless rates were in Greece, Spain, and Italy with 20.9 per cent, 16.3 per cent, and 11.1 per cent respectively, Eurostat said. The Czech Republic, Malta, and Germany posted the lowest rates with 2.4 per cent, 3.5 per cent, and 3.6 per cent respectively.

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