Cyprus Mail
Cyprus

Unemployment drops to 8.8 per cent in December 2018

Unemployment decreased to 8.8 per cent (8.5 per cent for males and 9.1 per cent for females) in December 2018, compared with 8.9 per cent in November 2018 and 10.3 per cent in December 2017, according to Eurostat.

In December 2018 in Cyprus 39,000 individuals were unemployed compared with 40,000 in November 2018 and 44,000 in December 2017. Youth unemployment in Cyprus was 18.7 per cent during the 3rd quarter of 2018, or 7,000 individuals.

Meanwhile the euro area (EA19) seasonally-adjusted unemployment rate was 7.9 per cent in December 2018, stable compared with November 2018 and down from 8.6 per cent in December 2017. This remains the lowest rate recorded in the euro area since October 2008.

The EU28 unemployment rate was 6.6 per cent in December 2018, stable compared with November 2018 and down from 7.2 per cent in December 2017. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 16.3 million men and women in the EU28, of whom 12.9 million in the euro area, were unemployed in December 2018. Compared with November 2018, the number of persons unemployed decreased by 75,000 in both the EU28 and the euro area. Compared with December 2017, unemployment fell by 1.533 million in the EU28 and by 1.174 million in the euro area.

Among the Member States, the lowest unemployment rates in December 2018 were recorded in the Czech Republic (2.1 per cent), Germany (3.3 per cent), Poland (3.5 per cent) and the Netherlands (3.6 per cent). The highest unemployment rates were observed in Greece (18.6 per cent in October 2018), Spain (14.3 per cent) and Italy (10.3 per cent).


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