According to the results of the Cyprus Statistical Service’s Labor Force Survey, the labor force in the second quarter of 2022 amounted to 482,385 persons or 65.1% of the population (males 71.2%, females 59.5%) in comparison to 466,525 persons (63.9%) in the corresponding quarter of 2021.

The number of employed persons was 449,482 and the employment rate was 60.6% (males 66.9%, females 54.9%) in comparison to 427,300 persons (58.5%) in the corresponding quarter of 2021.

The number of unemployed persons amounted to 32,903 and the unemployment rate to 6.8% of the labor force (males 6.0%, females 7.8%) in comparison to 39,224 persons (8.4%) in the corresponding quarter of 2021.

Employment

For the age group 20-64, the employment rate was 78%. The rate for males was 84.2% and for females 72.2%. In the corresponding quarter of 2021, the rate was 75.2% (males 81.9%, females 69%). For the age group 55-64 the employment rate was 65.9% in comparison to 62.2% in the corresponding quarter of 2021.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (80.7%), followed by Manufacturing (16.8%) and Agriculture (2.5%). For the second quarter of 2021, the corresponding percentages were: Services 78.5%, Manufacturing 18.6% and Agriculture 2.9%.

The share of part-time employment to total employment was 10.9% or 48,858 persons (males 9.0%, females 13.0%). The corresponding rate for the second quarter of 2021 was 11.4% (males 10.1%, females 12.8%).

89.1% or 400,630 of the total employed persons were employees, of which 11.4% (45,679 persons) had a temporary job. In the corresponding quarter of 2021 employees accounted for 88.1% of total employment of which 13.1% had a temporary job.

Unemployment

For young persons aged 15-24 years old, the unemployment rate was 17.6% of the labor force of the same age group (males 16.3%, females 18.9%) in comparison to 17% (males 14.8%, females 19.3%) in the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 49.3% of the total unemployed persons searched for a job for a period of fewer than six months, 13.3% for a period of 6-11 months, whereas a percentage of 37.4% were long-term unemployed. The corresponding rates for the second quarter of 2021 were 40.5%, 24.0% and 35.5%.

Source: Knews