Cyprus Records the Largest Unemployment Annual Fall in the EU

02/10/2018

Cyprus registered, once again, the largest annual decrease in unemployment for August 2018, according to Eurostat, the statistical office of the European Union.

Unemployment in Cyprus dropped from 10.5% in August 2017 to 7.5% (7.0% in males and 7.9% in females) for August 2018 (or from 45 000 to 33 000 individuals), further down form 7.6% in July 2018.

Meanwhile, the euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in August 2018, down from 8.2% in July 2018 and from 9.0% in August 2017. This is the lowest rate recorded in the euro area since November 2008.