Jobless rate drops to 6% in Cyprus
Unemployment in Cyprus dipped to 6% in March, aligning with the EU average and staying below the eurozone average of 6.5%, as per data published by Eurostat on Friday.
Seasonally adjusted figures revealed a decline from 6.4% in the prior month and 6.3% in March 2023. The number of jobless people also decreased to 30,000 from 32,000 in February and 31,000 in March last year.
In March 2024, the euro area’s seasonally adjusted unemployment rate held steady at 6.5% compared to February 2024 and decreased from 6.6% in March 2023. The EU’s unemployment rate dropped to 6% from 6.1% in February 2024 and remained unchanged from March 2023.
Eurostat estimates 13.258 million people were unemployed in the EU, with 11.087 million in the euro area in March 2024. Unemployment decreased by 74,000 in the EU and by 94,000 in the eurozone compared to February 2024. However, compared to March 2023, unemployment rose by 175,000 in the EU and dipped by 51,000 in the euro area.
Spain has the highest unemployment rate at 11.7%, followed by Greece at 10.2%. The Czech Republic and Poland reported the lowest rates at 2.9%.
