Insider Business Cyprus records largest unemployment drop in EU for May 2018 

Cyprus records largest unemployment drop in EU for May 2018 

 

Unemployment rates in Cyprus drop further to 8.4% in May 2018 (36000 individuals, 7.9% males and 8.9% females), down from 8.6% in April 2018 and 11.4% in May 2017, according to Eurostat, the statistical service of the EU. This is the largest annual decrease (from 11.4% to 8.4%), followed by Croatia (from 11.3% to 8.9%), Greece (from 22.1% to 20.1% between March 2017 and March 2018) and Portugal (from 9.2% to 7.3%).

Among the Member States, the lowest unemployment rates in May 2018 were recorded in the Czech Republic (2.3%) and Germany (3.4%). The highest unemployment rates were observed in Greece (20.1% in March 2018) and Spain (15.8%). Compared with a year ago, the unemployment rate fell in all Member States.

Meanwhile the euro area (EA19) seasonally-adjusted unemployment rate was 8.4% in May 2018, stable compared with April 2018 and down from 9.2% in May 2

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