Cyprus Mail

Unemployment falls to 7.4 per cent, largest annual drop in EU

File photo of people at unemployment office

Cyprus has once again recorded the largest annual decrease in unemployment rates in the EU, from 10.2 per cent in September 2017 to 7.4 per cent in September 2018.

The same rate was 7.5 per cent in August 2018 (7.1 per cent in males and 7.8 per cent in females) and corresponds roughly to 32 000 individuals, according to Eurostat, the statistical office of the European Union.

Meanwhile, the euro area (EA19) seasonally-adjusted unemployment rate was 8.1 per cent in September 2018, down from 8.9 per cent in September 2017.

This remains the lowest rate recorded in the euro area since November 2008.

Among the member states, the lowest unemployment rates in September 2018 were recorded in Czechia (2.3 per cent), Germany and Poland (both 3.4 per cent). The highest unemployment rates were observed in Greece (19.0 per cent in July 2018) and Spain (14.9 per cent).
The largest decreases were registered in Cyprus (from 10.2 per cent to 7.4 per cent).

Youth unemployment (those under 25) remained the highest in Greece at 37.9 per cent in September.



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