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Unemployment at 5.1% in June

02/08/2022 07:19

The seasonally-adjusted unemployment rate in Cyprus was 5.1% in June 2022, compared to 6.6% in the euro area and 6.0% in the EU, according to figures published by Eurostat, the statistical office of the European Union.

In Cyprus, the unemployment rate rose slightly from 4.9% in May 2022, and dropped compared to June 2021 when it was 8.8%.

In the euro area, the unemployment rate was stable compared with May 2022 and down from 7.9% in June 2021. The EU unemployment rate was stable compared with May 2022 and down from 7.2% in June 2021.

Eurostat estimates that 12,931 million men and women in the EU, of whom 10,925 million in the euro area, were unemployed in June 2022. Compared with June 2021, unemployment decreased by 2,311 million in the EU and by 1,957 million in the euro area.

About 24 thousand people were unemployed in Cyprus in June, an increase compared to 23 thousand in May and a decrease compared to 41 thousand last June.

Regarding youth unemployment, in June 2022, 2,546 million young persons (under 25) were unemployed in the EU, of whom 2,073 million were in the euro area.

In June 2022, the youth unemployment rate was 13.6% in both the EU and the euro area, up from 13.3% in the EU and up from 13.2% in the euro area.

Compared with May 2022, youth unemployment increased by 59 thousand in the EU and by 64 thousand in the euro area. Compared with June 2021, youth unemployment decreased by 527 thousand in the EU and by 450 thousand in the euro area.

In Cyprus, youth unemployment remained stable at 11.7% compared with May, and fell compared with June last year when it was 18.3%.

About 4 thousand young people were unemployed in Cyprus in June, with the number remaining stable compared to May, and having decreased compared to June last year when 7 thousand young people were unemployed.

Regarding unemployment by sex, in June 2022 the unemployment rate for women was 6.4% in the EU, stable compared with May 2022. The unemployment rate for men was 5.7% in June 2022, remaining also stable compared with the previous month.

In the euro area, the unemployment rate for women was 7.0% and the unemployment rate for men was 6.2%, both stable compared with May 2022.

In Cyprus, the unemployment rate for women was 6.1%, increasing compared with May when it was 5.6%, and the unemployment rate for men was 4.2%, dropping slightly from 4.3%.