articles | 03 September 2014

Unemployment rate down 5.9% since 2013

The rate of unemployment recorded a 5.9% dip in August 2014, compared to the corresponding month last year, mainly observed in the sectors of trade.

Based on the seasonally adjusted data that shows the trend of unemployment, the number of registered unemployed for August 2014 increased to 47,865 persons compared to 47,826 in the previous month, official data showed Wednesday. 


Unemployed persons registered at District Labour Offices in August reached 45,583. 


However compared to August 2013, there was a decrease of 2,868 or 5.9% dip recorded. 


This was mainly observed in the sectors of trade (a decrease of 1,511 unemployed persons), construction (-1,003), education (-950), manufacturing (-520), professional, scientific and technical activities (-340) and financial and insurance activities (-339). 


During the same period there was also an increase in unemployment in the sectors of public administration (+670 unemployed persons), accommodation and food service activities (+155).
Newcomers in the labour market without a job increased 1,011.

Source: InCyprus

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