News Local Cyprus sees biggest drop in unemployment in EU in September

Cyprus sees biggest drop in unemployment in EU in September

Cyprus recorded the biggest annual drop in unemployment in September, with the jobless rate falling to 7.2% from 10.4% in the same month the previous year. This was nevertheless the seventh highest in the EU 28.

Eurostat figures released on Wednesday showed that the euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in September 2018, stable compared with August 2018 and down from 8.9% in September 2017. This remains the lowest rate recorded in the euro area since November 2008.

The EU28 unemployment rate was 6.7% in September 2018, stable compared with August 2018 and down from 7.5% in September 2017. This is the lowest rate recorded in the EU28 since the start of the
EU monthly unemployment series in January 2000.

Eurostat estimates that 16.574 million men and women in the EU28, of whom 13.153 million in the euro area, were unemployed in September 2018. Compared with August 2018, the number of persons unemployed decreased by 35 000 in the EU28 and increased by 2 000 in the euro area.

Compared with September 2017, unemployment fell by 1.793 million in the EU28 and by 1.309 million in the euro area.
Among the Member States, the lowest unemployment rates in September 2018 were recorded in Czechia (2.3%), Germany and Poland (both 3.4%).

The highest unemployment rates were observed in Greece (19.0% in July 2018) and Spain (14.9%).

Compared with a year ago, the unemployment rate fell in 27 Member States and remained stable in Estonia. The largest decreases were registered in Cyprus (from 10.2% to 7.4%), Croatia (from 10.5% to 8.2%), Greece (from 20.9% to 19.0% between July 2017 and July 2018), Portugal (from 8.5% to 6.6%) and Spain (from 16.7% to 14.9%).

In September 2018, the unemployment rate in the United States was 3.7%, down from 3.9% in August 2018 and from 4.2% in September 2017.

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