Compared to the year before, Cyprus saw a reduction in its annual unemployment rate, dropping to 6.4% in 2021, falling below the eurozone average of 7%.
The country’s unemployment rate remained unchanged between November and December 2021.
In December 2021, seasonally-adjusted unemployment rates dropped to 7% and 6.4% in the eurozone and the EU.
According to Eurostat, there was a slight decrease compared to November and a more significant drop from 2020.
The euro area unemployment rate fell to 7.0%, down from 7.1% in November and 8.2% in December 2020.
The EU unemployment rate was 6.4% in December, down from 6.5% in November and 7.5% in December 2020.
Around 13.612 million men and women in the EU 11.481 million in the euro area were unemployed in December 2021.
Compared with November 2021, the number of unemployed persons decreased by 210,000 in the EU and 185,000 in the euro area.
Compared with December 2020, unemployment decreased by 2.196 million in the EU and 1.828 million in the euro area.
The unemployment rate in Cyprus remained unchanged in December; it was also 6.4% in November, having previously dropped slightly from 6.6% in October 2021.
However, Cyprus’ unemployment rate dropped compared with December 2020, when it stood at 8.0%.
The number of unemployed in Cyprus remained at 30,000 in December compared to November but dropped by 6,000 annually when it stood at 36,000.
Regarding youth unemployment in December, 2.748 million young persons (under 25) were unemployed in the EU, of whom 2.222 million were in the euro area.
The youth unemployment rate was 14.9% in both the EU and the euro area, down from 15.3% in the EU and 15.4% in the euro area in the previous month.
Compared with November 2021, youth unemployment decreased by 81,000 in the EU and 78,000 in the euro area.
In Cyprus, the youth unemployment rate stood at 15.1% in December, the same as November, dropping from 19.9% in December 2020.
About 6,000 young people were unemployed in November and December 2021, dropping by about one thousand since December 2020.
The unemployment rate for women was 6.6% in the EU, down from 6.8% in November.
The unemployment rate for men was 6.1% in December, down from 6.2% in November.
In the euro area, the unemployment rate for women decreased from 7.5% in November to 7.3% in December, while the unemployment rate for men decreased from 6.8% to 6.7%.
In Cyprus, the unemployment rate for women in December was 6.8% (compared to November 6.5% and December 2020 7.9%).
For men, the rate stood at 6.0% (November 6.3% and December 2020 8.2%).
