Cyprus jobless rate among highest in EU

Cyprus’ unemployment rate of 8% was the third highest in the EU and above the Euro area average of 6.6%, Eurostat data for September shows.

The jobless rate in Cyprus dropped to 8% from 8.3% in August and up from 6.2% in September last year.

Only Spain (12.7%) and Greece (11.8%) had a higher unemployment rate than Cyprus in the EU 27.

In September, the euro area seasonally-adjusted unemployment rate was 6.6%, down from 6.7% in August and 7.3% in September 2021.

The EU unemployment rate was 6%, stable compared with August and down from 6.7% in September last year.

Eurostat estimates that 12.960 million men and women in the EU (10.988 million in the euro area) were unemployed in September.

Compared with August, the number of unemployed decreased by 52,000 in the EU and 66,000 in the euro area.

Compared with September 2021, unemployment decreased by 1.304 million in the EU and by 1.071 million in the euro area.

Youth unemployment

In September, some 2.747 million young people (under 25) were unemployed in the EU, of whom 2.241 million were in the euro area.

The youth unemployment rate was 14.6% in the EU and the euro area, up from 14.3% and 14.4%, respectively, in the previous month.

In Cyprus, youth unemployment was the fourth highest at 21.7% — behind Spain, Greece, and Italy.

A year ago, Cyprus’ youth unemployment was a lower 14.9%.

Compared with August 2022, youth unemployment increased by 48,000 in the EU and 25,000 in the euro area.

Compared with a year ago, youth unemployment decreased by 79,000 in the EU and 50,000 in the euro area.

The unemployment rate for women was 6.4% in the EU, stable compared with August.

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

In the euro area, the unemployment rate for women was 7.1%, down from 7.2% in the previous month, while the unemployment rate for men was 6.2%, stable compared with August.