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The rate of unemployment in Cyprus recorded a modest decrease in January 2015, falling to 16.1% from 16.4% the previous month.

Though a positive development, the figure still represents a higher proportion of unemployed persons in relation to the total working population than the EU average of 15.7%. 

According to Eurostat, the statistical office of the EU, the euro area seasonally-adjusted unemployment rate was 11.2% in January 2015, down from 11.3% in December 20144. This is the lowest rate recorded in the area since April 2012.

The EU28 unemployment rate, meanwhile, was noted at 9.8% in January 2015, down from 9.9% in December 2014.

Among the Member States, the lowest rates of unemployment in January 2015 were recorded in Germany, with 4.7%, and Austria, with 4.8%. The highest were noted in Greece, with 25.8% in November 2014, and Spain, with 23.4%. 

Compared with a year ago, the unemployment rate in January 2015 fell in twenty-four Member States, remained stable in Belgium and increased in Cyprus, Finland and France.

The largest decreases were registered in Spain, Estonia and Ireland.

Courtesy of GOLD NEWS