Un­em­ploy­ment stuck at 16%

Financial Mirror (Cyprus) - - FRONT PAGE -

The rate of un­em­ploy­ment rate re­mained steady in May, stub­bornly at 16% com­pared to the pre­vi­ous month.

The euro area sea­son­ally-ad­justed un­em­ploy­ment rate was 11.1% in May, sta­ble from April, and down from 11.6% in May 2014. This is the low­est rate recorded in the euro area since March 2012.

The EU28 un­em­ploy­ment rate was 9.6% in May, also sta­ble com­pared with April and down from 10.3% in May 2014. This is the low­est rate recorded in the EU28 since July 2011, ac­cord­ing to Euro­stat.

Among EU mem­ber states, the low­est un­em­ploy­ment rate in May was in Ger­many (4.7%), and the high­est in Greece (25.6% in March) and Spain (22.5%). Com­pared to a year ago, the un­em­ploy­ment rate in May fell in 22 mem­ber states, in­creased in five and re­mained sta­ble in Cyprus. The largest de­creases were in Lithua­nia (11.0% to 8.2%), Spain (24.7% to 22.5%) and Ire­land (11.7% to 9.8%). The in­creases were reg­is­tered in Bel­gium (8.4% to 8.6%), France (10.1% to 10.3%), Ro­ma­nia (6.8% to 7.1%), Aus­tria (5.6% to 6.0%) and Fin­land (8.6% to 9.4%).

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