News Local Unemployment in Cyprus down to 6.5% in June 2019

Unemployment in Cyprus down to 6.5% in June 2019

The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in June 2019, down from 7.6% in May 2019 and from 8.2% in June 2018.

This is the lowest rate recorded in the euro area since July 2008.

The EU28 unemployment rate was 6.3% in June 2019, stable compared with May 2019 and down from 6.8% in June 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. These figures are published by Eurostat, the statistical office of the European Union.

In Cyprus unemployment further declined  to 6.5% in June 2019 (28 000 individuals, 5,5% in men  and 7,6% in women) down from 6.6% in May 2019 and 8.3% in June 2018 (32 000 individuals, 80% in men and 8.6% in women.

Eurostat estimates that 15.674 million men and women in the EU28, of whom 12.377 million in the euro area, were unemployed in June 2019. Compared with May 2019, the number of persons unemployed decreased by 36 000 in the EU28 and by 45 000 in the euro area. Compared with June 2018, unemployment fell by 1.205 million in the EU28 and by 1.032 million in the euro area.

Among the Member States, the lowest unemployment rates in June 2019 were recorded in Czechia (1.9%) and Germany (3.1%). The highest unemployment rates were observed in Greece (17.6% in April 2019) and Spain (14.0%).

Compared with a year ago, the unemployment rate fell in 24 Member States and remained stable in Estonia and Poland, while it increased in Sweden (from 6.3% to 6.4%) and Luxembourg (from 5.6% to 5.8%).

The largest decreases were registered in Greece (from 19.8% to 17.6% between April 2018 and April 2019), Cyprus (from 8.3% to 6.5%), Croatia (from 8.6% to 7.1%), Ireland (from 5.9% to 4.5%) and Slovakia (from 6.7% to 5.4%). In June 2019, the unemployment rate in the United States was 3.7%, up from 3.6% in May 2019 and down from 4.0% in June 2018.

In June 2019, 3.176 million young persons (under 25) were unemployed in the EU28, of whom 2.251 million were in the euro area.

Compared with June 2018, youth unemployment decreased by 239 000 in the EU28 and by 179 000 in the euro area. In June 2019, the youth unemployment rate was 14.1% in the EU28 and 15.4% in the euro area, compared with 15.2% and 17.0% respectively in June 2018.

In June 2019, the lowest rates were observed in Germany (5.5%), the Netherlands (6.5%) and Czechia (6.6%), while the highest were recorded in Greece (39.6% in the first quarter of 2019), Spain (32.4%) and Italy (28.1%). Youth unemployment in Cyprus was 16.4% (6 000 individuals) in March 2019, latest available data.

(Cyprus News Agency)

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