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Eurostat: Cyprus Unemployment Falls To 5.2% In July From 7.9% Last Year

Eurostat: Cyprus Unemployment Falls To 5.2% In July From 7.9% Last Year

Seasonally adjusted unemployment in Cyprus fell to 5.2% in July 2021, continuing a steady decline after having peaked in May at 10.5%, according to figures published by Eurostat, the statistical office of the European Union. For comparison, in July 2020 unemployment stood at 7.9%.

The decline is in keeping with trends in the euro area’s and the EU’s average. In July 2021, the euro area seasonally-adjusted unemployment rate was 7.6%, down from 7.8% in June 2021 and from 8.4% in July 2020. The EU unemployment rate was 6.9% in July 2021, down from 7.1% in June 2021 and from 7.6% in July 2020.

According to Eurostat, about 23 thousand (5.2% of the labour force) were unemployed in Cyprus in July 2021, down from 38 thousand (8.2%) in June. From April to May 2021 the unemployment rate had risen from 9.7% (45 thousand) to 10.5% (49 thousand). 7.9% of the labour force (35 thousand) were unemployed in July 2020.

Seasonally adjusted unemployment declined for both genders in Cyprus. Even though unemployment remains higher for women, the gender gap has shrunk.

The unemployment rate for men is at 4.6% in July 2021, as compared to 6.8% in June 2021 (and 8.2% in April and 8.3% in May), and has also declined compared to July 2020 when the rate was 8.5%.

The unemployment rate for women is currently at 5.8%, as compared to 9.7% in June 2021 (and 11.3% in April and 12.8% in May), and has also declined compared to July 2020 when the rate was 7.2%.

In July 2021, the unemployment rate for women was 7.3% in the EU, down from 7.5% in June 2021. The unemployment rate for men was 6.5% in July 2021, down from 6.7% in June 2021. In the euro area, the unemployment rate for women decreased from 8.3% in June 2021 to 8.1% in July 2021, while the unemployment rate for men decreased from 7.3% in June 2021 to 7.1% in July 2021.

In July 2021, the youth unemployment rate (under 25) was 16.2% in the EU and 16.5% in the euro area, down from 16.9% and 17.2% respectively in the previous month.

Youth unemployment data were not available in the cases of Cyprus, Belgium, Croatia, Romania and Slovenia as they are made public by national authorities on a quarterly basis. According to the latest data, youth unemployment in Cyprus was at 20.1% during the second quarter, and was at 22% in July last year.

Source: CNA

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