News Local September unemployment drops to 6.6%, 2nd biggest fall in EU

September unemployment drops to 6.6%, 2nd biggest fall in EU

The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in September 2019, stable compared with August 2019 and down from 8.0% in September 2018, according to Eurostat, the statistical office of the European Union and this is the lowest rate recorded in the euro area since July 2008.

The EU28 unemployment rate was 6.3% in September 2019, stable compared with August 2019 and down from 6.7% in September 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

In Cyprus unemployment decreased from 8.0% in September 2018 and 6.8% in August 2019, to 6.6% in September 2019 (second largest annual drop in the EU). More specifically unemployment decreased from 35 000 individuals in September 2018, to 30 000 in August 2019 and 29 000 in September 2019 (6.3% for males and 6.9% for females).

Eurostat estimates that 15.635 million men and women in the EU28, of whom 12.335 million in the euro area, were unemployed in September 2019. Compared with August 2019, the number of persons unemployed increased by 48 000 in the EU28 and by 33 000 in the euro area. Compared with September 2018, unemployment fell by 889 000 in the EU28 and by 738 000 in the euro area.

Among the Member States, the lowest unemployment rates in September 2019 were recorded in Czechia (2.1%) and Germany (3.1%). The highest unemployment rates were observed in Greece (16.9% in July 2019) and Spain (14.2%). Compared with a year ago, the unemployment rate fell in 22 Member States, remained stable in Belgium, Portugal and Romania while it increased in Lithuania (from 6.3% to 6.5%), Denmark (from 5.0% to 5.3%), and Sweden (from 6.3% to 7.3%).

The largest decreases were registered in Greece (from 19.1% to 16.9% between July 2018 and July 2019), Cyprus (from 8.0% to 6.6%) and Estonia (from 5.3% to 3.9% between August 2018 and August 2019). In September 2019, the unemployment rate in the United States was 3.5%, down from 3.7% in August 2019 and from 3.7% in September 2018.

In September 2019, 3.223 million young persons (under 25) were unemployed in the EU28, of whom 2.283 million were in the euro area. Compared with September 2018, youth unemployment decreased by 145 000 in the EU28 and by 109 000 in the euro area. In September 2019, the youth unemployment rate was 14.5% in the EU28 and 15.9% in the euro area, compared with 15.0% and 16.7% respectively in September 2018. In September 2019, the lowest rates were observed in Czechia (4.4%), Germany (5.9%) and the Netherlands (7.2%), while the highest were recorded in Greece (33.2% in the second quarter of 2019), Spain (32.8%) and Italy (28.7%).

In Cyprus youth unemployment dropped to 16.5% in June 2019 compared to 18.4% in September 2018, or from 7000 to 6000 individuals.

(Cyprus News Agency)

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