Eurostat: Cyprus unemployment stable at 6.6%

The seasonally-adjusted unemployment rate in Cyprus remained stable at 6.6% in August compared to July, and slightly lower compared to August 2022 when it was 6.8%, according to figures published by Eurostat.

The number of unemployed persons in Cyprus in August stood at around 33,000, unchanged compared to July as well as August last year.

In the Eurozone the unemployment rate was 6.4%, down from 6.5% in July and down from 6.7% in August 2022. The EU unemployment rate was 5.9% in August, down from 6.0% in July and from 6.1% in August 2022.

Eurostat estimates that 12,837 million persons in the EU, of whom 10,856 million in the euro area, were unemployed in August 2023. Compared with July 2023, unemployment decreased by 112,000 in the EU and by 107,000 in the euro area. Compared with August 2022, unemployment decreased by 335,000 in the EU and by 407,000 in the euro area.

Unemployment by gender

In August, the unemployment rate for women was 6.2% in the EU, stable compared with July. The unemployment rate for men was 5.7%, also stable compared with the previous month. In the Eurozone, the unemployment rate for women was 6.7%, down from 6.8% in July, and the unemployment rate for men was 6.1%, also down from 6.2% the previous month.

In Cyprus, the unemployment rate for women stood at 7.2%, down from 7.0%, while for men the rate was at 6.1%, having increased compared to 6.2% the previous month.

Youth unemployment

In August, 2,687 million young persons (under 25) were unemployed in the EU, of whom 2,194 million were in the Eurozone. The youth unemployment rate was 14.0% in the EU, stable compared with July, and 13.8% in the euro area, down from 13.9% the previous month.

Compared with July, youth unemployment decreased by 10,000 persons in the EU and by 24,000 in the Eurozone. Compared with August 2022, youth unemployment decreased by 141,000 in the EU and by 145,000 in the Eurozone.

(Cyprus’ updated youth unemployment data is no available yet as the country publishes them every quarter)