Cyprus experiences steady economic recovery and unemployment decline, Minister says

Cyprus is experiencing a steady economic recovery, said Minister of Labour, Welfare and Social Insurance Zeta Emilianidou on Wednesday, noting that unemployment is declining.

Speaking at the annual meeting of the Human Resource Management Association, the Minister said that Cyprus is experiencing a steady economic recovery, with growth of more than 3%, which is expected to remain stable and strong in the current and in the next year.

The rate of unemployment, noted the Minister, shows a steady downward trend and on the basis of the latest data, the unemployment rate is around 12.5%, from 17% in 2012.

Despite the downward trend of unemployment the Government is not complacent, Emilianidou stressed, but added that each month more job positions open.

The government, she said, remains firmly focused on stabilizing and increasing growth, as well as on continuously creating more and better jobs.

The Ministry, she added, continues its efforts by continuously promoting appropriate policies and measures to reduce unemployment, boosting the employability of the unemployed and workers, supporting new jobs, improving welfare systems and the promotion of social cohesion, and modernizing labour institutions and practices.