Nicosia: The number of unemployed in Cyprus increased sharply in December, jumping from 14.2% in November to 14.7% which marks a staggering 5% increase from December last year when the figure was 9.7% and sets a new record for the island.
The data, provided by the Statistical Office of the European Union, shows that unemployment levels in Cyprus rose at the fastest pace in Europe in December 2012. The increase, when compared with December 2011 (9.7%) levels shows that the increase in the number of unemployed is only second to Greece within the eurozone.
Further analysis of the figures shows that the increase was fuelled by unemployment levels of people aged under 25 which has climbed to 28.5%.