Unemployment in Cyprus saw the fastest rise in the EU in February, according to the latest figures from the European statistical service, Eurostat.
Unemployment, as measured on an EU-compatible basis. shot up to 5.6% in February, compared with 5.0% in January. While this rate is low by European standards, it is very high by Cypriot standards, where rates above 5% have not been seen for decades.
Other member states which saw a strong increase were Portugal (6.3% to 6.9%) and the Netherlands (4.3% in December 2003 to 4.7% in December 2004).
The largest relative decreases, meanwhile, were observed in Lithuania (11.6% to 8.9%), Estonia (9.9% to 8.0%), Malta (7.8% to 6.8%) and Slovakia (18.5% to 16.2%).
Seasonally adjusted unemployment in the eurozone stood at 8.9% in February 2005, compared to 8.8% in both January 2005 and February 2004.
The EU25 unemployment rate was also 8.9% in February 2005, unchanged compared to January.
It was 9.0% in February 2004.
Lowest and highest rates
In February 2005, the lowest rates were registered in Ireland (4.3%), Luxembourg (4.4%), Austria (4.6%), the United Kingdom (4.6% in December 2004) and the Netherlands (4.7% in December 2004). Unemployment rates were highest in Poland (18.1%), Slovakia (16.2%), Greece (10.5% in September 2004) and Spain (10.3%).
By gender and age
In February 2005 compared to February 2004, the unemployment rate for males fell from 7.5% to 7.4% in the euro-zone and decreased from 8.1% to 7.9% in the EU25. The female unemployment rate grew from 10.6% to 10.7% in the euro-zone, and was unchanged at 10.2% in the EU25.
In February 2005, the unemployment rate for under-25s was 18.5% in the euro-zone and 18.8% in the EU25. In February 2004 it was 18.0% and 18.8% respectively. The lowest rates for under-25s were observed in Denmark (7.4% in January 2005), the Netherlands (7.4% in December 2004) and Ireland (7.9%), and the highest in Poland (37.6%), Slovakia (28.8%), Greece (26.3% in September 2004) and Italy (24.0% in December 2004).
Eurostat estimates that, in February 2005, 12.8 million men and women were unemployed in the euro-zone and 19.1 million in the EU25. These are seasonally-adjusted figures in line with ILO criteria.
In February 2005, the US unemployment rate was 5.4% and the Japanese rate was 4.6%.
