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Thursday, May 23, 2024

Unemployment fell to 6% in March in Cyprus according to Eurostat

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Επεσε στο 6% η α&nu ;εγνμοσποσων ;α ε τη Unemployment in Cyprus decreased to 6% in March Eurostat on Friday, reaching the EU average, and remaining below the Eurozone average, which stands at 6.5%.</b></p>
<p data-block-key= According to seasonally adjusted data, unemployment in Cyprus fell to 6% from 6.4% the previous month and 6.3% in March 2023.

The number of unemployed also fell to 30,000 from 32,000 in February and 31,000 last March.

The average unemployment rate in the EU is in March 2024 at 6%, the same as in March 2023, and marginally reduced compared to February, which was 6.1%.

On the other hand, the average unemployment in the euro countries is at 6.5%, the same as in February, and slightly reduced from 6.6% of last March.

Compared to February 2024, unemployment fell by 74,000 in the EU and by 94,000 in the euro area. Compared to March 2023, unemployment rose by 175,000 in the EU and fell by 51,000 in the euro area.

Spain has the highest unemployment rate, with 11 .7%, followed by Greece at 10.2%. The lowest unemployment rate is recorded in the Czech Republic and Poland, at 2.9%.

According to seasonally adjusted data, unemployment among young people under 25 in Cyprus it stands at 20.7% in March, unchanged from February and up from 15.7% last March. Youth unemployment stands at 9,000.

Cyprus' rate of youth unemployment is higher than that of the EU and the Eurozone, which range at 14.6% and at 14.1% respectively.

The highest youth unemployment rate is recorded in Spain with 27.2% and the lowest in Germany with 5.8%.

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Source: KYPE

Source: reporter.com.cy

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