Unemployment reaches 17.1% in Cyprus in September

Unemployment in Cyprus recorded a new high in September 2013, reaching 17.1% or 76,000 persons compared to 16.9% or 75,000 persons in August, according to data released today by Eurostat.

At the same time Cyprus recorded the highest increase among EU member states since September 2012, from 12.7% or 56,ooo persons to 17.1% or 76,000, which is the third highest percentage in EU following Greece’s 27.6% (July 2013) and Spain’s 26.6%.

The euro area (EA17) seasonally-adjusted unemployment rate was 12.2% in September 2013, stable compared with August. The EU28 unemployment rate was 11.0%, also stable compared with August. In both zones, rates have risen compared with September 2012, when they were 11.6% and 10.6% respectively.

Youth (under 25s) unemployment in Cyprus remained stable at 43.9% in September whereas men unemployment was recorder at 17.3% from 17.1% in August and women unemployment increased by 0.3% to 16.9% in September from 16.6% in August.

According to Eurostat figures in September 2013, 26,872 million men and women were unemployed in the EU28, of whom 19,447 million were in the euro area. Compared with August 2013, the number of persons unemployed went up by 61,000 in the EU28 and by 60,000 in the euro area. Compared with September 2012, unemployment rose by 978,000 in the EU28 and by 996 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (5.9%), and the highest in Greece (27.6% in July 2013) and Spain (26.6%).

Compared with a year ago, the unemployment rate increased in sixteen Member States, fell in eleven and remained stable in the Czech Republic. The highest increases were registered in Cyprus (12.7% to 17.1%) and Greece (25.0% to 27.6% between July 2012 and July 2013). The largest decreases were observed in Latvia (15.6% to 11.3% between the second quarters of 2012 and 2013) and Estonia (10.0% to 8.3% between August 2012 and August 2013).