Cyprus employment unlikely to reach 75-77% by 2020, HRDA study reveals

Cyprus is unlikely to achieve its national target for an employment rate between 75-77% in 2020, a study prepared by the Cyprus Human Resource Development Authority (HRDA) revealed on Wednesday.

“The employment rate was 67.9% in 2015 and despite its marginal improvement compared to 2014 (67.6%), it seems unlikely that the national target (75 – 77%) for 2020 will be achieved and, most probably, it will need to be redefined” HRDA said in a study titled “Trends of Human Resource Indicators in Cyprus 2009-2015”.

The study noted the “considerable decrease” in the employment rate of the population aged 20 – 64, especially among men, young persons aged 15 – 24 and persons with upper secondary and post – secondary non – tertiary education but also those with up to lower secondary education, as a consequence of the recent economic crisis.

Source: Cyprus News Agency