articles | 22 June 2018

Unemployment rate increases in Q1 2018 to 10.7%

The unemployment rate in the first quarter of the year rose to 10.7%, from 10.1% the previous quarter, revising previous estimates upwards, a likely sign the economy is slowing.

Compared to the first quarter of 2017 –when the percentage of people out of work was 13.5% – the number of jobless fell by 10,952 to 46,468, Cystat said in a statement on its website on Friday. The number of unemployed people rose in the first quarter by 3,355 compared to October to December.

The unemployment rates announced by Eurostat for January, February, and March were 9.9%, 9.4%, and 9% respectively, or a three-month average of 9.4%.

The total labour force in the first quarter was 432,566, up from 423,794 the previous year, and 427,264 in the last three months of 2017, Cystat said.

The unemployment rate among youths was 25.7%, up from 22.9% the previous quarter but lower than the 26.7% in the first three months of 2017, Cystat said.

The unemployment rate among men was 10.3% in the first three months of 2018 and 11.2% among women, Cystat said.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for CYFA Cyprus
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Shipping Chamber
  • Logo for Cyprus International Businesses Association
  • Logo for Cyprus Investment Funds Association
  • Logo for Invest Cyprus
  • Logo for Cyprus Chamber of Commerce and Industry