Cyprus’ February unemployment stable at 6.8 per cent

Unemployment in Cyprus in February 2021 was stable compared to January at 6.8 per cent (31,000 individuals, 7.6 per cent for males and 5.9 per cent for females) while a year earlier it was 6.1 per cent (27,000 individuals, 6.2 per cent for males and 6.0 per cent for females), according to the latest figures published by Eurostat on Tuesday.

Youth unemployment in Cyprus was 20.1 per cent (7000 individuals) in December 2020 (latest available data).

The euro area seasonally adjusted unemployment rate was 8.3 per cent, stable compared with January 2021 and up from 7.3 per cent in February 2020. The EU unemployment rate was 7.5 per cent in February 2021, also stable compared with January 2021 and up from 6.5 per cent in February 2020.

Eurostat estimates that 15.953 million men and women in the EU, of whom 13.571 million in the euro area, were unemployed in February 2021. Compared with January 2021, the number of persons unemployed increased by 34,000 in the EU and by 48,000 in the euro area. Compared with February 2020, unemployment rose by 1.922 million in the EU and by 1.507 million in the euro area.

In February 2021, 2.967 million young persons (under 25) were unemployed in the EU, of whom 2.394 million were in the euro area. In February 2021, the youth unemployment rate was 17.2 per cent in the EU and 17.3 per cent in the euro area, compared with 17.4 per cent in both areas in the previous month. Compared with January 2021, youth unemployment decreased by 34,000 in the EU and by 9,000 in the euro area. Compared with February 2020, youth unemployment increased by 230,000 in the EU and by 177,000 in the euro area.

In February 2021, the unemployment rate for women was 7.9 per cent in the EU, stable compared with January 2021. The unemployment rate for men was 7.1 per cent in February 2021, also stable compared with January 2021. In the euro area, the unemployment rate for women increased from 8.7 per cent in January 2021 to 8.8 per cent in February 2021 and the unemployment rate for men remained stable at 7.9 per cent.