News Local Cyprus records the largest unemployment annual fall in EU for August 2018

Cyprus records the largest unemployment annual fall in EU for August 2018

Cyprus registered, once again, the largest annual decrease in unemployment for August 2018, according to Eurostat, the statistical office of the European Union.

Unemployment in Cyprus dropped from 10.5% in August 2017 to 7.5% (7.0% in males and 7.9% in females) for August 2018 (or from 45 000 to 33 000 individuals), further down form 7.6% in July 2018.

Meanwhile, the euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in August 2018, down from 8.2% in July 2018 and from 9.0% in August 2017. This is the lowest rate recorded in the euro area since November 2008.

The EU28 unemployment rate was 6.8% in August 2018, stable compared with July 2018 and down from 7.5% in August 2017.

This remains the lowest rate recorded in the EU28 since April 2008.

Eurostat estimates that 16.657 million men and women in the EU28, of whom 13.220 million in the euro area, were unemployed in August 2018. Compared with July 2018, the number of persons unemployed decreased by 114 000 in the EU28 and by 102 000 in the euro area. Compared with August 2017, unemployment fell by 1.921 million in the EU28 and by 1.419 million in the euro area.

Among the member states, the lowest unemployment rates in August 2018 were recorded in the Czech Republic (2.5%), Germany and Poland (both 3.4%). The highest unemployment rates were observed in Greece (19.1% in June 2018) and Spain (15.2%). Compared with a year ago, the unemployment rate fell in all Member States.

The largest decreases were registered in Cyprus (from 10.5% to 7.5%), Croatia (from 10.9% to 8.5%), Greece (from 21.3% to 19.1% between June 2017 and June 2018) and Portugal (from 8.8% to 6.8%). In August 2018, the unemployment rate in the United States was 3.9%, stable compared with July 2018 and down from 4.4% in August 2017.

In August 2018, 3.315 million young persons (under 25) were unemployed in the EU28, of whom 2.367 million were in the euro area. Compared with August 2017, youth unemployment decreased by 431 000 in the EU28 and by 275 000 in the euro area. In August 2018, the youth unemployment rate was 14.8% in the EU28 and 16.6% in the euro area, compared with 16.6% and 18.5% respectively in August 2017. In August 2018, the lowest rates were observed in Germany (6.2%), the Czech Republic (6.3%) and the Netherlands (7.7%), while the highest were recorded in Greece (39.1% in June 2018), Spain (33.6%) and Italy (31.0%).

(Cyprus News Agency)

Top Stories

New record number of new cases of COVID-19 on Tuesday: 152

The Health Ministry announced 153 new COVID-19 cases on 20 October, out of 4,410 laboratory tests, taking confirmed infections to 2, 839. The break-down of...

Stench in Kokkinotrimithia and Mammari due to farms and burned garbage

Citizens of Kokkinotrimithia and Mammari contacted philenews and complained that at the Kafkalla location some people threw a huge quantity of garbage and set...

Police chasing suspects in Paphos

Members of the Anti-Narcotics Unit who were watching some suspects for drug trafficking, according to first information, chased a suspicious vehicle which tried to...

71-year-old dead in accident

During an accident that took place this morning in the district of Nicosia, 71-year-old Andreas Alexandrou from Kato Moni of Nicosia District lost his...

Rain and hail in Lympia and Xylotympou (PHOTOS)

Rain and hail were seen in various areas of Cyprus. Social media users published photos from Lympia and Xylotympou. (philenews)

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...