Unemployment payments down in August 2014

Unemployment benefits payments fell 11.3% year-on-year in the first eight months of 2014, recent social insurance data showed.

August recorded the second biggest annual drop in payments – 47.3% or €4.7 million compared with €9.0 million in August 2013. The biggest annual decrease was recorded in April, 68.3%.

The total amount paid by social insurance in the first eight months of the year reached €92.3 million compared with €104.1 million in 2013.

Unemployment in Cyprus fell to 15.4% in August compared with 15.7% the previous month, according to the EU’s statistical service Eurostat.

Source: Cyprus Mail

Cyprus Profile

articles | 14 October 2014