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Unemployment in Cyprus rises to 17.4% in March

02 May, 2014

The rate of unemployment in Cyprus increased to 17.4% in March, that is 78.000 unemployed, from 16.8% in February, Eurostat said on Friday.

The statistical office of the EU said that the euro area (EA18) seasonally-adjusted unemployment rate was 11.8% in March 2014, stable since December 2013, but down from 12.0% in March 2013 and the EU28 unemployment rate was 10.5% in March 2014, stable compared with February 2014, but down from 10.9% in March 2013.

The rate of unemployment was 18.4% among Cypriot men, 16.4% among Cypriot women and 43.2% among young people up to 25 years old.

Eurostat estimates that 25.699 million men and women in the EU28, of whom 18.913 million were in the euro area, were unemployed in March 2014. Compared with February 2014, the number of persons unemployed decreased by 66.000 in the EU28 and by 22.000 in the euro area.

Compared with a year ago, Cyprus saw the highest increase in the unemployment rate, from 14.8% to 17.4%.

Also, compared with March 2013, unemployment decreased by 929.000 in the EU28 and by 316.000 in the euro area.