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Unemployment slides in Cyprus and across Europe

The seasonally-adjusted unemployment rate in Cyprus dropped to 11% (or 46,000 individuals) in May 2017 from 11.3% in April 2017 and 12.8% in May 2016. The unemployment rate was 11.2% in males and 10.8% in females. Youth unemployment also dropped to 9,000 individuals, down from 11,000 in May 2016.

Meanwhile the euro area (EA19) seasonally-adjusted unemployment rate was 9.3% in May 2017, stable compared to April 2017 and down from 10.2% in May 2016. This remains the lowest rate recorded in the euro area since March 2009.

The EU28 unemployment rate was 7.8% in May 2017, stable compared to April 2017 and down from 8.7% in May 2016.

This remains the lowest rate recorded in the EU28 since December 2008. These figures are published by Eurostat, the statistical office of the European Union. Eurostat estimates that 19.1 million men and women in the EU28, of whom 15 million in the euro area, were unemployed in May 2017.

Among the Member States, the lowest unemployment rates in May 2017 were recorded in the Czech Republic (3.0%), Germany (3.9%) and Malta (4.1%). The highest unemployment rates were observed in Greece (22.5% in March 2017) and Spain (17.7%).

The largest decreases were registered in Croatia (from 13.4% to 10.7%), Spain (from 20.2% to 17.7%) and Ireland (from 8.4% to 6.4%). In May 2017, the unemployment rate in the United States was 4.3%, down from 4.4% in April 2017 and from 4.7% in May 2016.

In May 2017, 3.7 million young persons (under 25) were unemployed in the EU28, of whom 2.6 million were in the euro area. Compared with May 2016, youth unemployment decreased by 584,000 in the EU28 and by 401,000 in the euro area.

In May 2017, the youth unemployment rate was 16.9% in the EU28 and 18.9% in the euro area, compared with 19.0% and 21.3% respectively in May 2016. In May 2017, the lowest rate was observed in Germany (6.7%), while the highest rates were recorded in Greece (46.6% in March 2017), Spain (38.6%) and Italy (37.0%).

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