Eurostat figures show Cyprus is returning to conditions of full employment, says Spokesman

Cyprus is returning to levels of full employment data published by Eurostat show, Government Spokesman Prodromos Prodromou notes in a written statement issued today.

Figures indicating that Cyprus recorded the largest annual decrease in unemployment in the EU show that the country is returning to levels of full employment, he says.

Unemployment rates in Cyprus further dropped to 8.2% (7.6% for males and 8.8% for females) or 35 000 individuals, in June 2018, from 8.3% in May 2018 and 11% or 47 000 individuals in June 2017, according to a Eurostat announcement on Tuesday. That was again the largest annual decrease.

Government Spokesman Prodromos Prodromou further notes that the Eurostat figures confirm that Cyprus has recorded the greatest progress and largest reduction in unemployment among EU countries.

The Spokesman also says the unemployment rate dropped in June by about half of its peak during the crisis in 2014 (16.4%). The 8.2 per cent drop puts Cyprus just below Europes average, says the Spokesman, adding that it confirms the course which is leading Cyprus to conditions of full-time employment

These positive developments in employment, he adds, create better conditions for the government’s strategy to create new positions through attracting foreign investors and encouraging economic activity in sectors that Cyprus has advantages and giving young people a chance for employment.

Source: Cyprus News Agency