EUROSTAT: Cyprus unemployment fell in September to 15.1%

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Cyprus unemployment fell in September to 15.1% or 65.000 people in absolute numbers, from 15.4% in August, Eurostat, the statistical office of the European Union, said on Friday.

The unemployment rate among men was 16.3%, 13.8% among women and 34.9% or 15.000 among young people under 25 years, according to Eurostat.

The euro area (EA18) seasonally-adjusted unemployment rate was 11.5% in September 2014, stable compared with August 2014, but down from 12.0% in September 2013. The EU28 unemployment rate was 10.1% in September 2014, also stable compared with August 2014 and down from 10.8% in September 2013, the figures showed.

Eurostat estimates that 24.512 million men and women in the EU28, of whom 18.347 million were in the euro area, were unemployed in September. Compared with August, the number of persons unemployed decreased by 108.000 in the EU28 and by 19.000 in the euro area. Compared with September 2013, unemployment fell by 1.818 million in the EU28 and by 826.000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Germany (5.0%) and Austria (5.1%), and the highest in Greece (26.4% in July 2014) and Spain (24.0%), the service said.

Compared with a year ago, the unemployment rate fell in twenty-one Member States, increased in six and remained stable in Belgium. The largest decreases were registered in Hungary (10.0% to 7.6% between August 2013 and August 2014), Spain (26.1% to 24.0%) and Portugal (15.7% to 13.6%), and the highest increases were registered in Finland (8.2% to 8.7%) and France (10.3% to 10.5%).

In September 2014, 4.988 million young persons (under 25) were unemployed in the EU28, of whom 3.340 million were in the euro area. Compared with September 2013, youth unemployment decreased by 595.000 in the EU28 and by 213.000 in the euro area. In September 2014, the youth unemployment rate was 21.6% in the EU28 and 23.3% in the euro area, compared with 23.5% and 24.0% respectively in September 2013. In September 2014, the lowest rates were observed in Germany (7.6%), Austria (9.1%) and the Netherlands (9.8%), and the highest in Spain (53.7%), Greece (50.7% in July 2014), Italy (42.9%) and Croatia (41.8% in the third quarter 2014).