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New jump in Cyprus jobless

The local job market took another battering in September, with Cyprus registering the biggest rise in the unemployment rate in the EU.
Seasonally adjusted figures released by Eurostat yesterday also showed the number of unemployed estimated at a record 76,000. This is up from 75,000 the previous month and from 56,000 in September 2012. 
Compared with a year ago, the unemployment rate increased in 16 Member States, fell in 11 and remained stable in the Czech Republic. 
Eurostat said the highest increases were registered in Cyprus (12.7% to 17.1%) and Greece (25.0% to 27.6% between July 2012 and July 2013). The largest decreases were observed in Latvia (15.6% to 11.3% between the second quarters of 2012 and 2013) and Estonia (10.0% to 8.3% between August 2012 and August 2013). The number of men out of work in Cyprus is estimated at 17.3% and of women at 16.9%.
Among young people below 25, it stood at 43.9%. Overall, the euro area (EA17) seasonally-adjusted unemployment rate was 12.2% in September 2013, stable compared with August.
The EU28 unemployment rate was 11.0%, also stable compared with August.
In both zones, rates have risen compared with September 2012, when they were 11.6% and 10.6% respectively. 
Among the Member States, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (5.9%), and the highest in Greece (27.6% in July 2013) and Spain (26.6%). 
In September 2013, 5.584 million young persons (under 25) were unemployed in the EU28, of whom 3.548 million were in the euro area. Compared with September 2012, youth unemployment decreased by 57,000 in the EU28, but increased by 8,000 in the euro area. 
In September 2013, the youth unemployment rate was 23.5% in the EU28 and 24.1% in the euro area, compared with 23.1% and 23.6% respectively in September 2012. The lowest rates were observed in Germany (7.7%) and Austria (8.7%), and the highest in Greece (57.3% in July 2013), Spain (56.5%) and Croatia (52.8% in the third quarter of 2013).


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