Unemployment in Cyprus falls to 12,1% in Q2 2016

Unemployment rate in Cyprus fell to 12,1% of the labour force in the second quarter of 2016, compared to 14,1% in the previous quarter and 14,6% in the same period last year, according to the results of the Labour Force Survey.

The unemployment rate for men was 11,9% and for women 12,3%. The number of unemployed persons amounted to 51.070.

For young persons aged 15-24 years old, the unemployment rate was 26,8% of the labour force of the same age group (males 25,2%, females 28,1%) in comparison to 31,7% (males 35,3%, females 28,7%) in the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 34,8% of the total unemployed persons searched for a job for a period of less than 6 months, 18,7% for a period of 6-11 months, whereas a percentage of 46,5% were long-term unemployed.

Source: Cyprus News Agency.