By Stelios Orphanides
The unemployment rate in Cyprus fell in March to 9.1 per cent from 9.5 per cent in February and 12.3 per cent compared to a year before, the European Commission’s statistical office said.
The number of persons without a job fell in March to 39,000 from 40,000 in February and 52,000 in March 2017, Eurostat said in a statement on its website on Wednesday. It was the lowest unemployment rate since the end of 2011, the year in which the island’s economy fell into a prolonged recession. Cyprus’s jobless rate was the fifth highest EU-wide and the fourth highest in the euro area.
The unemployment rate among males was 9.1 per cent and among females 9 per cent in March, Eurostat said. The youth unemployment rate was in December, the latest available figure, 22.8 per cent compared to 26.8 per cent in March 2017.
In the EU, the average unemployment rate remained unchanged in March at 7.1 per cent compared to the month before, Eurostat said. In the euro area it also remained unchanged at 8.5 per cent.
The highest jobless rate was in Greece with 20.6 per cent followed by Spain’s 16.1 per cent and Italy’s 11 per cent, while the lowest was reported in the Czech Republic with 2.2 per cent followed by Malta and Germany with 3.3 per cent and 3.4 per cent respectively, Eurostat said.
Article source: CyprusBusinessMail – Read more..