Insider Economy Unemployment in Cyprus further decreased to 6.9% in April 2019

Unemployment in Cyprus further decreased to 6.9% in April 2019

Unemployment in Cyprus further decreased to 6.9% in April 2019 (32 000 individuals), down from 7.2% in March 2019 (33 000) and 8.4% in April 2018 (36 000), according to Eurostat, the statistical office of the European Union. Female unemployment remains slightly higher at 7.9% compared to 6.0% for males.

Unemployment in Greece was 18.5% in February 2019 (872 000 individuals 14.8% for males and 23.3 for females), down from 18.6% in January 2019 (877 000) and 20.6% in February 2018 (971 000).

Meanwhile, the euro area (EA19) seasonally-adjusted unemployment rate was 7.6% in April 2019, down from 7.7% in March 2019 and from 8.4% in April 2018. This is the lowest rate recorded in the euro area since August 2008. The EU28 unemployment rate was 6.4% in April 2019, stable compared with March 2019 and down from 7.0% in April 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 15.802 million men and women in the EU28, of whom 12.529 million in the euro area, were unemployed in April 2019. Compared with March 2019, the number of persons unemployed decreased by 108 000 in the EU28 and by 64 000 in the euro area. Compared with April 2018, unemployment fell by 1.394 million in the EU28 and by 1.147 million in the euro area.

Among the Member States, the lowest unemployment rates in April 2019 were recorded in Czechia (2.1%), Germany (3.2%) and the Netherlands (3.3%). The highest unemployment rates were observed in Greece (18.5% in February 2019), Spain (13.8%) and Italy (10.2%). Compared with a year ago, the unemployment rate fell in all Member States except Luxembourg and Poland where it remained stable while an increase was registered in Denmark (from 5.2% to 5.3%). The largest decreases were registered in Greece (from 20.6% to 18.5% between February 2018 and February 2019), Estonia (from 6.0% to 4.1% between March 2018 and March 2019) and Spain (from 15.6% to 13.8%). In April 2019, the unemployment rate in the United States was 3.6%, down from 3.8% in March 2019 and from 3.9% in April 2018.

In April 2019, 3.213 million young persons (under 25) were unemployed in the EU28, of whom 2.308 million were in the euro area. Compared with April 2018, youth unemployment decreased by 246 000 in the EU28 and by 151 000 in the euro area. In April 2019, the youth unemployment rate was 14.2% in the EU28 and 15.8% in the euro area, compared with 15.4% and 17.2% respectively in April 2018. In April 2019, the lowest rates were observed in Germany (5.3%) and the Netherlands (6.2%), while the highest were recorded in Greece (38.8% in February 2019), Spain (32.7%) and Italy (31.4%).

In Cyprus youth unemployment stood at 19.3% or 7 000 individuals for  Q4 of 2018, compared to 20.2% in April 2018 (8 000).
In Greece youth unemployment was 38.8% in February 2019 (91 000 individuals) down from 40.3% in April 2018 (99 000).

(Cyprus News Agency)

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