Cyprus unemployment rate marks marginal decrease in July

In Cyprus, the unemployment rate for July 2010 was 7.1%, up from 5.5% a year ago, according to figures published today by Eurostat. The unemployment rate in Cyprus, however, marked a small decrease, compared to June 2010 data, when the rate was 7.2%.

Cyprus’ July 2010 rate is the eighth lowest among the EU 27 member states and is below both EU27 and Euro area average. Unemployment rate among the male population stands at 7.3% and is lower among the female population, at 6.9%. No figures were published for youth unemployment rates, which in June 2010 stood at 20%.

In the Εuro area, unemployment rate remained unchanged at 10.0% in July 2010, compared with June. It was 9.6% in July 2009.

Unemployment rate in the 27 member states was 9.6% in July 2010, unchanged compared with June. It was 9.1% in July 2009.

In the member states, the lowest unemployment rates were recorded in Austria (3.8%) and the Netherlands (4.4% in June 2010), and the highest rates in Spain (20.3%), Latvia (20.1% in the first quarter of 2010) and Estonia (18.6% in the second quarter of 2010).

Compared with a year ago, three member states recorded a fall in the unemployment rate, two remained stable and twenty-two showed an increase. The falls were observed in Austria (5.1% to 3.8%), Malta (7.3% to 6.5%) and Germany (7.6% to 6.9%). The highest increases were registered in Latvia (13.5% to 20.1% between the first quarters of 2009 and 2010) and Lithuania (11.2% to 17.3% between the first quarters of 2009 and 2010).

Eurostat also announced today that Euro area annual inflation is expected to be 1.6% in August 2010 according to a flash estimate. It was 1.7% in July.