CYPRUS: Unemployment drops to 15%

Based on the results of the Labour Force Survey, average unemployment reached 63,736 people, of which 32,870 where men and 30,866 were women. For the fourth quarter of 2015, the number of employed persons amounted to 361,448 and the number of unemployed persons to 53,021.

The employment rate for persons aged 20-64 was 68.3% (males 72.2% and females 64.6%) in comparison to 67.6% in the previous quarter and to 68.4% in the corresponding quarter of 2014.

The unemployment rate amounted to 12.8% of the labour force (males 13.4% and females 12.1%) recording a decrease from the previous quarter (14.8%) and from the corresponding quarter of 2014 (16.0%).

Also, the unemployment rate for young persons aged 15-24 amounted to 29.5% of the labour force of the same age group in comparison to 32.3% in the previous quarter and to 33.7% in the corresponding quarter of 2014.

Source: Financial Mirror