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Cypriot employment rate among best in Europe
Cyprus' rate of employment is among the top four countries in the eurozone according to the latest European Union statistics.
Figures on the eurozone's seasonally-adjusted unemployment indicate the island's jobless ratio stood at just 4.5 per cent in February 2007, down from the 4.9 per cent recorded at the same time in 2006.
The figure makes Cyprus the equivalent of the US in respect of unemployment and compares favourably with a number of stronger economies in Europe, including the UK and Germany.
The data, from Eurostat, the statistical office of the European communities, suggests the country's entry into the European Union in 2004 and its plans to adopt the euro have given it an economic upturn.
A popular destination with Britons investing overseas, Cyprus has a large expatriate community and changes planned to the property laws could yield further outward investment.
At present investors from overseas can own just one property on the island, but this is expected to be relaxed from 2009 onwards.
Cyprus has also benefited from the proliferation of budget airlines making travel to the country increasingly practical, building on its long-standing reputation as a popular site for Britons looking to invest in property or retire to a holiday home.
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