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Cyprus’ working youth at increased risk of poverty

In 2017 the proportion of young people aged 18-24 in work and at risk of poverty in Cyprus was at 13.7%, a Eurostat study found.

The EU average was at 11%.

Cyprus was in eighth place among the EU-28 for the proportion of its working young people who are at risk of poverty.

The highest proportion of young people aged 18-24 in work and at risk of poverty in 2017 was in Romania (28.2%), followed by Luxembourg (20.0%), Denmark (19.1%), Spain (19.0%) and Estonia (18.4%).

Cyprus has seen one of the largest increases in the amount of its working young people at risk of poverty, as in 2016 the country was in 16th place among the EU-28 with 10.2%.

Also, according to Eurostat, the proportion of Cypriot working youth has been constantly increasing in the past ten years. In 2007 the percentage of working youth at risk of poverty in the country was at 5.2%, in 2008 it was at 6.3%, in 2009 it was at 6.8%, in 2010 it was at 8.5%, in 2011 it was at 10.1%, in 2012 it was at 9.0%, in 2013 it was at 10.7%, in 2014 it dropped to 6.4% and in 2015 it rose to 15.0%.

The data source is here.

Individuals are identified as being at risk of poverty if their equivalised disposable income is less than 60% of the national median equivalised disposable income after social transfers have been taken into account.

Note 1: The equivalised disposable income is the total income of a household, after tax and other deductions, that is available for spending or saving, divided by the number of household members.

Note 2: Social transfers cover the social help given by central, state or local institutional units . They include:

  • old-age (retirement) and survivors’ (widows’ and widowers’) pensions;
  • unemployment benefits;
  • family-related benefits;
  • sickness and invalidity benefits;
  • education-related benefits;
  • housing allowances;
  • social assistance;
  • other benefits.

Read more:

https://in-cyprus.com/59-8-of-cypriots-report-difficulty-in-making-ends-meet-eurostat/

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