ECONOMY

Cyprus jobless rate at 6.4% in December

Cyprus jobless rate at 6.4% in December

Cyprus saw a reduction in its seasonally adjusted unemployment rate in December 2021, dropping to 6.4% compared to December 2020. However, the country’s unemployment rate remained unchanged between November and December last year, according to figures published by Eurostat.

The euro area jobless rate fell to 7%, down from 7.1% in November 2021 and from 8.2% in December 2020.

The unemployment rate in Cyprus remained unchanged in December, since it was also at 6.4% in November, having previously dropped slightly from 6.6% in October 2021. However, the rate in Cyprus showed a decline when compared with December 2020 when it had stood at 8%.

The number of unemployed people in Cyprus remained at approximately 30,000 in December, roughly the same as in November, but dropped by 6,000 compared to the previous December when the figure had stood at 36,000.

The youth unemployment rate stood at 15.1% in December 2021, same as November 2021, having dropped compared to December 2020 when it had stood at 19.9%. About 6,000 young people were unemployed in November and December 2021.