Unemployment marked a 2 percentage points drop in Q1 2022 declining to 6.6% from 8.6% in the same quarter of last year, according to data released by the Statistical Service of Cyprus (Cystat).
According to the results of the Labour Force Survey, the labour force in the 1st quarter of 2022 amounted to 474,631 persons or 64.3% of the population (males 70.6%, females 58.6%) compared with 453,638 persons (62.2%) in the corresponding quarter of 2021.
The number of employed persons rose to 443,327 and the employment rate 60.1% (males 66.3%, females 54.4%) compared with 414,668 persons (56.8%) in the corresponding quarter of 2021.
The number of unemployed persons amounted to 31,305 and the unemployment rate to 6.6% of the labour force (males 6.1%, females 7.1%) in comparison to 38,970 persons (8.6%) in the corresponding quarter of 2021.
For the age group 20-64, the employment rate was 77.3%. The rate for males was 83.6% and for females 71.3%. In the corresponding quarter of 2021 the rate was 73.5% (males 79.7%, females 67.7%). For the age group 55-64 the employment rate was 63.6% in comparison to 60.1% in the corresponding quarter of 2021, Cystat added.
According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (80.4%), followed by Manufacturing (17.2%) and Agriculture (2.4%). For the 1st quarter of 2021, the corresponding percentages were: Services 77.3%, Manufacturing 19.3% and Agriculture 3.4%.
According to Cystat, the share of part-time employment to total employment was 10.8% or 47,929 persons (males 8.7%, females 13.2%). The corresponding rate for the 1st quarter of 2021 was 12.3% (males 10.8%, females 14.0%).
The employment rate in the age 20-64 amounted to 77.3%. The rate for males was 83.6% and for females 71.3%. The respective rate in Q1 of 2021 amounted to 73.5% (males 79.7%, females 67.7%).
For the age group 55-64 the employment rate was 63.6% compared with 60.1% in the respective quarter of 2021.
Furthermore, the share of part-time employment to total employment was 10.8% or 47,929 persons (males 8.7%, females 13.2%), while the corresponding rate for the 1st quarter of 2021 was 12.3% (males 10.8%, females 14.0%).
According to Cystat, unemployment in young persons aged 15-24 years old amounted to 17.7% of the labour force of the same age group (males 19.3%, females 16.2%) in comparison to 19.5% (males 25.3%, females 12.8%) in the corresponding quarter of last year.
Data show that that 50.7% of the total unemployed persons searched for a job for a period of less than 6 months, 15.0% for a period of 6-11 months, whereas a percentage of 34.3% were long-term unemployed. The corresponding rates for the 1st quarter of 2021 were 42.4%, 25.3% and 32.3%, Cystat added.
Source: Cyprus News Agency