Registered unemployed hit lowest level of past five years for August

The unemployed persons, registered at the District Labour Offices on the last day of August 2017, reached 31,003 persons, the lowest level of the past five years for the month, according to data released on Tuesday by the Statistical Service of Cyprus.

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for August 2017 decreased to 33,614 persons in comparison to 34,093 in the previous month, reaching the lowest level since March 2012.

For August, the number of registered unemployed persons was the lowest since August 2012, both based on real and seasonally adjusted data.

In comparison with August 2016, a decrease of 4,783 persons or 13.4% was recorded which was mainly observed in the sectors of construction (a decrease of 1,053 unemployed persons), public administration (a decrease of 961), trade (a decrease of 765), financial and insurance activities (a decrease of 443), manufacturing (a decrease of 401) and to newcomers in the labour market (a decrease of 383).

The figures indicate that the largest number of unemployed persons by age and gender were 30-39 for both men and women, 3,834 and 5,435 respectively, followed by the age group of 50-59 for men (3,225) and 40-49 for women (3,484).

Regarding the duration of unemployment, 10,264 persons were unemployed for over 12 months, followed by 9,591 who were out of work for 15 days to three months.

Those unemployed for six to twelve months were 4,847 persons, and from three to six months 4,419. Persons unemployed for up to a fortnight were 1,882 persons.

Source: Cyprus News Agency