Registered unemployed persons in Cyprus decline to a nine-year low

The number of the unemployed persons registered at the District Labour Offices in October declined to the lowest level of the last nine years, data released on Monday by the Cyprus Statistical Service (Cystat) show.

According to Cystat, the number of the registered unemployed in October declined to 20,447, a new low point since November 2009.

Compared with October 2017, the registered unemployed declined by 5,589 persons or 22.7%, while compared with September 2018 the number marked a reduction of 952 persons corresponding to a reduction of 4.4%.

The number of registered unemployed peaked at 53.204 persons in February 2014.

Based on seasonally adjusted data, the number of the registered unemployed persons amounted to 24,992, marking the lowest levels since January 2011.

Compared with October 2017, the highest reduction in registered unemployed persons recorded in Wholesale and Retail Trade and Motor vehicle repair which declined by 1,122 persons, followed by Public Administration with a reduction of 722 persons and Constructions with 714 persons.

Source: Cyprus News Agency