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June annual unemployment fell

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The seasonally adjusted unemployment rate in Cyprus dropped in June from 2022 while remaining stable compared to May, according to Eurostat.

Unemployment in Cyprus stood at 4.8% in June, remaining stable since May, but having dropped compared to June 2022, when it was 7.3%.

In absolute numbers, there were 23,000 unemployed in Cyprus in June, compared to 35,000 in 2022.

Meanwhile, the eurozone unemployment rate was 6.4%, stable compared with May and down from 6.7% in June 2022.

The EU unemployment rate was 5.9% in June, also stable compared with May and down from 6.1% in June 2022.

Some 12.802 mln persons in the EU were unemployed in June, of whom 10.814 mln were in the eurozone.

Compared with May, unemployment decreased by 2,000 in the EU and 62,000 in the eurozone.

In June 2022, unemployment decreased by 387,000 in the EU and 441,000 in the eurozone.

Youth unemployment

In June 2023, 2.739 million young persons (under 25) were unemployed in the EU, of whom 2.204 million were in the eurozone.

In June 2023, the youth unemployment rate was 14.1% in the EU and 13.8% in the eurozone, from 14% recorded in both regions in the previous month.

Compared with May, youth unemployment increased by 28,000 in the EU and decreased by 31,000 in the eurozone.

Compared with June 2022, youth unemployment decreased by 16,000 in the EU and 81,000 in the eurozone.

In Cyprus, 4,000 young persons were unemployed in June, or 10.8% of that age group.

Youth unemployment remained unchanged compared to May but fell significantly compared to June 2022 (19.5% or 8,000).

Highest among women

In June, the unemployment rate for women was 6.1% in the EU, stable compared with May.

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

In the eurozone, the unemployment rate for women was 6.7%, and the unemployment rate for men was 6.1%, both stable compared with May.

In Cyprus, unemployment among women in June was 5.6% (higher than 5.5% in May) and 4.1% among men (lower than 4.3% in May).