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EU employment rate improves

EU employment rate improves

06.07.2022

Eurostat, the statistical office of the European Union, on Tuesday announced a slight improvement in overall EU employment in the first quarter of 2022 compared to the fourth quarter of 2021.

According to a Eurostat report, the employment rate among people aged 20 to 64 increased by 0.5%, reaching a total of 74.5%.

In addition, most EU Member States experienced an increase in employment, with Cyprus growing by 0.8%, from 77.2% in the fourth quarter of 2021 to 78% in the first quarter of 2022.

In terms of the labor market gap, i.e. the proportion of people who need a job but can’t find one, it was 11.9% of the extended labor force aged 20 to 64 in the first quarter of 2022.

This reflects a decrease of 0.4% from the previous quarter, when the figure was previously 12.3%.

The highest employment growth among Member States in the first quarter of 2022 was recorded in Greece (1.8%), followed by Luxembourg (1.1%) and Latvia (1%).

Finally, employment rates declined in only three Member States, namely Lithuania (-0.3%), Denmark (-0.5%) and Malta (-0.6%).

Source and photo: www.cyprus-mail.com, Editor estateofcyprus.com
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