Cyprus unemployment rises to 5.1%

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The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat.

But the Cyprus jobless rate did rise slightly from 4.9% in May and dropped annually compared to June 2021, when it was 8.8%.

In the euro area, the unemployment rate was stable compared with May and down from 7.9% in June 2021.

The EU unemployment rate was stable compared with May and down from 7.2% annually.

Eurostat estimates that 12.931 million men and women in the EU, of whom 10.925 million in the euro area, were unemployed in June.

Compared with June 2021, unemployment decreased by 2.311 million in the EU and 1.957 million in the euro area.

About 24,000 people were unemployed in Cyprus in June, an increase from 23,000 in May and a decrease compared to 41,000 last year.

In June, 2.546 million young persons (under 25) were jobless in the EU, of whom 2.073 million were in the euro area.

The youth unemployment rate was 13.6% in the EU and the euro area, up from 13.3% and 13.2%, respectively.

In Cyprus, youth unemployment remained stable at 11.7% compared with May; it fell compared with June last year when it was 18.3%.

About 4,000 young people were unemployed in Cyprus in June, with the number remaining stable from May, having decreased from 7,000 a year ago.

In June, the EU’s unemployment rate for women was 6.4%.

The unemployment rate for men was 5.7%, remaining stable compared with the previous month.

In the euro area, the unemployment rate for women was 7.0%, and for men, it was 6.2%.

In Cyprus, the unemployment rate for women was 6.1%, an increase from May when it was 5.6%; for men, it was 4.2%, dropping slightly from 4.3%.