Minister of Finance Konstantinos Petridis expressed his satisfaction with the Eurostat data that show that Cyprus showed the largest annual decline in unemployment of all EU countries in July.
According to Eurostat, Cyprus has recorded the largest drop in unemployment of all European Union countries between July 2020 and July 2021, which now amounts to 5.2% of the economically active population compared to 7.9% in the same period last year. period.
The number of unemployed fell from 35,000 to 23,000, which corresponds to a decrease of 34.3%, which is the largest drop in Europe and three times the average drop in unemployment in the European Union, which was 9.4%, while The risk of poverty or social exclusion, continuing its downward trend in recent years, has reached its lowest level since 2007.
“These official statistics show the success of the Government's policies, especially if one considers the economic crisis as a result of the pandemic,” said Mr. Petridis. in the best interests of all citizens and we call on all of them to take part in the whole effort “.
According to Eurostat, unemployment last month fell by 2.7 points compared to a year ago, when unemployment was at 7.9%, while the average unemployment rate in the Eurozone was 7.6%.
“The above data confirm the declining trend of unemployment and the increase of employment in Cyprus”, the Ministry of Labor states in a statement broadcast by the GTP.
At the same time, the Ministry states that on 30/8/2021 the annual Report of the Statistical Service on the risk indicators of poverty and social exclusion for 2020 was published. According to the published data, the net income of households increased, continuing a continuous increase with 14.7% overall increase from 2015 to 2020 in net household income, while the poverty risk rate decreased, continuing a downward trend from 2015 to 2020 with a total decrease of 11.7% (1.9 percentage points or from 16.2% to 14.3%),
The risk of poverty or social exclusion decreased, continuing a downward trend from 2015 to 2020 with a total reduction of 26.3% (7.6 percentage points or from 28.9% to 21.3%),
“It The Government is in the right direction “, the Ministry states, which concludes by noting that” efforts continue with the aim of further developing the labor market and further improving the quality of life of every citizen and especially the most vulnerable groups of the population. “
