Cyprus has third best performance in EU27 in unemployment rates

Cyprus has third best performance in EU27 in unemployment rates


Cyprus has the third best performance regarding unemployment, according to data by Eurostat, the Statistical Office of the European Communities. The unemployment in Cyprus reached 3,7% in December 2007.

The euro area seasonally-adjusted unemployment rate stood at 7.2% in December 2007, unchanged compared with November. It was 7.8% in December 2006.
The EU27 unemployment rate was 6.8% in December 2007, compared to 6.9% in November. It was 7.6% in December 2006.

In December 2007, the lowest rates were registered in the Netherlands (2.9%) and Denmark (3.1%), and the highest in Slovakia (10.8%) and Spain (8.6%).
Over the last year, twenty-four Member States recorded a fall in their unemployment rate and three an increase.

The largest falls were observed in Poland (11.8% to 8.1%) and Bulgaria (8.2% to 5.8%), and the highest increase in Spain (8.2% to 8.6%).
The unemployment rate for males fell from 6.9% to 6.5% between December 2006 and December 2007 in the euro area and from 7.0% to 6.4% in the EU27.
The female unemployment rate declined from 8.9% to 8.0% in the euro area and from 8.4% to 7.3% in the EU27.

In December 2007, the unemployment rate for under-25s was 14.3% in the euro area and 14.8% in the EU27.
In December 2006 it was 15.6% and 16.3% respectively. The lowest rates for under-25s were observed in the Netherlands (5.1%) and Slovenia (7.9% in the fourth quarter 2007), and the highest in Greece (22.6% in the third quarter 2007) and Romania (21.6%).

Eurostat estimates that 16.2 million men and women in the EU27, of which 11.0 million were in the euro area, were unemployed in December 2007.
In December 2006, 18.0 million men and women in the EU27, of which 11.8 million were in the euro area, were unemployed. In December 2007, the unemployment rate was 5.0% in the USA and 3.8% in Japan.

FINANCIAL MIRROR