13:19Cyprus has begun the year on an optimistic note, reports my colleague Helena Smith. Cyprus’ statistics service announced that unemployment dropped by an unprecedented 15% last month reinforcing evidence that the euro zone’s most easterly member state is en route to making a remarkable economic recovery following the island’s near financial meltdown in 2013. 35,771 people were registered as unemployed in December, the lowest rates since December 2011, according to Cystat. The drop was attributed squarely to the construction sector which is rebounding with the recovery. Unemployment in the midst of crisis reached an all-time high of 53,204 in February 2014.

Source: The Guardian January 04, 2018 07:37 UTC