Unemployment down by 21.7% in March

The unemployment rate recorded an annual decline of 21.7% or 8.472 persons in March 2018, the Statistical Service of Cyprus reported on Wednesday.

Cystat announced that the unemployed persons, registered at the District Labour Offices on the last day of March 2018, reached 30.616 persons.

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for March 2018 decreased to 27.816 persons compared to 28.530 in the previous month.

In comparison with March 2017, a decrease of 8.472 persons or 21,7% was recorded said the Statistical Service.

The biggest drop in the number of unemployed was recorded in the sector of trade (1.576 persons), followed by the public administration (1.449 persons), construction (1.097 persons), accommodation and food service activities (966 persons), manufacturing (682 persons), financial and insurance activities (428 persons) and to newcomers in the labour market (942 persons).

Source: Cyprus News Agency