Youth unemployment in Cyprus stable at 21.7%

In September 2022, seasonally-adjusted unemployment rate was at 6.6% for the eurozone, at 6.0% for the EU and at 8.0% for Cyprus according to figures published by Eurostat, the statistical office of the European Union.

Particularly in the case of Cyprus, the unemployment rate was at 8.0% in September, down from 8.3% in August, and up from 6.2% in September 2021.

Unemployment among youth under 25 in Cyprus remained stable in September compared to August at 21.7%, having increased compared to September 2021 when the rate stood at 14.9%. Youth unemployment in the eurozone and the EU increased slightly to 14.6% compared to August (from 14.4% and 14.3% respectively) and decreased compared to last year (from 15.4%).

The euro area seasonally adjusted unemployment rate decreased in September 2022, falling to 6,6% compared to 6.7% in August 2022 and compared to 7.3% in September 2021.

The EU unemployment remained stable at 6.0% compared with August 2022 and decreased from 6.7% in September 2021.

Eurostat estimates that 12,960 million men and women in the EU, of whom 10,988 million in the euro area, were  unemployed in September 2022.

Compared with August 2022, the number of persons unemployed decreased by 52 thousand in the EU and by 66 thousand in the euro area. Compared with September 2021, unemployment decreased by 1,304 million in the EU and by 1,071 million in the euro area.

In Cyprus, the number of unemployed in September 2022 was at 39 thousand, having increased compared to August from 41 thousand, and also increased compared to September 2021 from 29 thousand.

Youth unemployment

In September 2022, 2,747 million young persons (under 25) were unemployed in the EU, of whom 2,241 million were in the euro area.

In September 2022, the youth unemployment rate was 14.6% both in the EU and in the euro area, up from 14.3% and 14.4% respectively in the previous month.

Compared with August 2022, youth unemployment increased by 48 thousand in the EU and by 25 thousand in the euro area.

Compared with September 2021, youth unemployment decreased by 79 thousand in the EU and by 50 thousand in the euro area.

The percentage of youth unemployment in Cyprus remained stable in September compared to August at 21.7% (which corresponds to 9 thousand unemployed people), and increased compared to September 2021 when the youth unemployment rate was at 14.9% (6 thousand people in absolute numbers).

Unemployment by sex

In September 2022, the unemployment rate for women was 6.4% in the EU, stable compared with August 2022. The unemployment rate for men was 5.7% in September 2022, also stable compared with the previous month.

In the euro area, the unemployment rate for women was 7.1%, down from 7.2% in the previous month, while the unemployment rate for men was 6.2%, stable compared with the previous month.

In Cyprus, unemployment among women decreased from 10.0% in August to 9.2% in September 2022, and increased for men from 6.7% to 6.8%.