Unemployment in Cyprus reached 7.3% in December 2010

The unemployment rate in Cyprus increased slightly in December 2010 and reached 7.3%, compared to 7.2% in November, according to the data published on Tuesday by Eurostat, the statistical office of the European Union.

According to Eurostat, the euro area (EA16) seasonally-adjusted unemployment rate was 10.0% in December 2010, unchanged compared with November. The EU27 unemployment rate was 9.6% in December 2010, unchanged compared with November.

In Cyprus, the unemployment rate for males was 6.9% in December (7% in November), for female was 7.6% (7,5% in November) and the youth unemployment rate was 20,4%.

In Greece, the statistics concern the third quarter of 2010, when the unemployment reached 12.9%, compared to 12.2% in the second quarter of the same year. The unemployment rate for males was 10.3% and for females 16.6%. The youth unemployment rate rose to 33.4% during the same period.

Eurostat estimates that 23.179 million men and women in the EU27, of whom 15.775 million were in the euro area, were unemployed in December 2010. Compared with November, the number of persons unemployed fell by 19 000 in the EU27 and by 73000 in the euro area. Compared with December 2009, unemployment rose by 434 000 in the EU27 and by 178 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in the Netherlands (4.3%), Luxembourg (4.9%) and Austria (5.0%), and the highest in Spain (20.2%), Lithuania and Latvia (both 18.3% in the third quarter of 2010).

Compared with a year ago, the unemployment rate fell in eight Member States, remained stable in the United Kingdom and increased in eighteen. The largest falls were observed in Malta (7.3% to 6.2%), Sweden (8.9% to 7.8%), Germany (7.4% to 6.6%) and Finland (8.8% to 8.1%). The highest increases were registered in Lithuania (14.3% to 18.3% between the third quarters of 2009 and 2010), Greece (9.7% to 12.9% between the third quarters of 2009 and 2010), Bulgaria (8.6% to 10.1%) and Slovenia (6.4% to 7.8%).