Jobless rate drops below 10% in January 2018, Eurostat says

Cyprus’ unemployment rate fell to 9.8% in January 2018, from 10.3% 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% while that among women was 9.8%. The youth jobless rate was 25.1% in October, which is the latest available figure.

Despite the drop, Cyprus’ 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% and 8.6% respectively.

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

Source: Cyprus Mail

Cyprus Profile

articles | 01 March 2018