Cyprus registers the 2nd highest unemployment increase in EU27

Unemployment rate in Cyprus reached 9.3% in December 2011, marking the second highest increase in a year across the EU.

According to figures released by the statistical office of the European Union (Eurostat), the highest yearly increases were registered in Greece (13.9% to 19.2% between October 2010 and October 2011), Cyprus (6.1% to 9.3%) and Spain (20.4% to 22.9%).

The euro area unemployment rate was 10.4% in December 2011, unchanged compared with November of the same year. It was 10.0% in December 2010. The EU27 unemployment rate was 9.9% in December 2011, also unchanged compared with November. It was 9.5% in December 2010.

Eurostat estimates that 23.816 million men and women in the EU27, of whom 16.469 million were in the euro area, were unemployed in December 2011. Compared with November 2011, the number of persons unemployed increased by 24 000 in the EU27 and by 20 000 in the euro area. Compared with December 2010, unemployment rose by 923 000 in the EU27 and by 751 000 in the euro area.