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Cyprus unemployment rose in February to 16.7% from 16.5%

02 April, 2014

Cyprus unemployment rose in February 2014 to 16.7%, from 16.5% in January, according to Eurostat data released Tuesday. The number of unemployed people in Cyprus reached 74.000.

The euro area seasonally-adjusted unemployment rate was 11.9% in February 2014, stable since
October 2013. It was 12.0% in February 2013.
Unemployment in the 28 EU member states was 10.6% in February 2014, down from 10.7% in January 2014. It was 10.9% in February 2013.

The unemployment rate among men in Cyprus was 17.5%, among women 15.9%, while unemployment among young persons under 25 years stood at 40.5% or 18,000 people (December 2013 data).

The average unemployment rate in the euro area stands at 11.8% among men, 12% among women and 23.5% among young people.

Greece recorded the highest unemployment with 27.5% (December data), with 24.5% among men, 31.6% among women and 58.3% among young people..
Compared with a year ago, the highest increases were registered in Cyprus (from 14.7% to 16.7%), Greece (26.3% to 27.5% between December 2012 and December 2013) and Italy (11.8% to 13.0%)
(6.2% to 7.3%).

The largest decreases in the euro area were observed in Latvia (13.8% to 11.6% between the fourth quarters of 2012 and 2013), Portugal (17.5% to 15.3%), and Ireland (13.7% to 11.9%).

In February 2014, there were 25.920 mln unemployed, of which 18,965 mln in the Eurozone. Euro area unemployment decreased in the course of one year by 166,000 people.