Eurostat: Cyprus registers the largest drop in unemployment in the EU in April 2016

Cyprus registered the largest decrease in unemployment rates in April 2016, from 15.7% to 11.6% compared with a year ago, according to Eurostat, the statistical office of the European Union. Still Cyprus has the 6gh largest rate in the EU, with 47.000 persons unemployed.

Meanwhile the euro area (EA19) seasonally-adjusted unemployment rate was 10.2% in April 2016, stable compared with March 2016, and down from 11.0% in April 2015. This is the lowest rate recorded in the euro area since August 2011. The EU28 unemployment rate was 8.7% in April 2016, down from 8.8% in March 2016, and from 9.6% in April 2015. This is the lowest rate recorded in the EU28 since April 2009.

Eurostat estimates that 21.224 million men and women in the EU28, of whom 16.420 million were in the euro area, were unemployed in April 2016. Compared with March 2016, the number of persons unemployed decreased by 106 000 in the EU28 and by 63 000 in the euro area. Compared with April 2015, unemployment fell by 2.096 million in the EU28 and by 1.309 million in the euro area.

Among the Member States, the lowest unemployment rates in April 2016 were recorded in the Czech Republic (4.1%), Germany (4.2%) and Malta (4.3%). The highest unemployment rates were observed in Greece (24.2% in February 2016) and Spain (20.1%). Compared with a year ago, the unemployment rate in April 2016 fell in twenty-five Member States, remained stable in Belgium and increased in Estonia (from 6.7% in March 2015 to 6.8% in March 2016) and Latvia (from 9.5% to 9.6%). The largest decreases were registered in Cyprus (from 15.7% to 11.6%), Bulgaria (from 10.0% to 7.1%) and Spain (from 22.7% to 20.1%). In April 2016, the unemployment rate in the United States was 5.0%, stable compared with March 2016, and down from 5.4% in April 2015.

In April 2016, 4.235 million young persons (under 25) were unemployed in the EU28, of whom 2.932 million were in the euro area. Compared with April 2015, youth unemployment decreased by 495 000 in the EU28 and by 261 000 in the euro area. In April 2016, the youth unemployment rate was 18.8% in the EU28 and 21.1% in the euro area, compared with 20.7% and 22.5% respectively in April 2015. In April 2016, the lowest rates were observed in Germany (7.0%), Malta (8.9%) and the Czech Republic (9.5%), and the highest in Greece (51.4% in February 2016), Spain (45.0%), Croatia (38.9% in the first quarter 2016) and Italy (36.9%).