Unemployment rate at 10.7% in first quarter of 2018

The number of unemployed persons reached 46,468 and the unemployment rate to 10.7% of the labour force in the first quarter of 2018, according to the results of the Labour Force Survey, released on Friday by the Statistical Service of the Republic of Cyprus.

In comparison, unemployment was 13.5% or 57,339 persons in the corresponding quarter of 2017. During the first three months of 2018, unemployment for males amounted to 10.3% and for females to 11.2%.

The labour force accounted for 432,566 persons or 62% of the population (males 66.5%, females 57.7%) in comparison to 423,799 persons (61.5%) in the corresponding quarter of 2017.

The number of employed persons was 386,098 and the employment rate 55.3% (males 59.6%, females 51.3%) in comparison to 366,461 persons (53.2%) in the corresponding quarter of 2017.

For the age group 20-64, the employment rate was 71.5%. The rate for males was 76.1% and for females 67.2%. In the corresponding quarter of 2017 the rate was 68.6% (males 73.7%, females 63.9%). For the age group 55-64 the employment rate was 58.7% in comparison to 52.1% in the corresponding quarter of 2017.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (81.2%), followed by Manufacturing (16.8%) and Agriculture (2%). For the first quarter of 2017, the corresponding percentages were: Services 79.5%, Manufacturing 17.7% and Agriculture 2.8%.

The share of part-time employment to total employment was 12.8% or 49,315 persons (males 9.5%, females 16.2%). The corresponding rate for the 1st quarter of 2017 was 14.5% (males 11.4%, females 17.9%).

Nearly 87% (to be exact 86.4%) or 333,669 of the total employed persons were employees, of whom 13.2% (43,927 persons) had a temporary job. In the corresponding quarter of 2017 employees accounted for 85.7% of total employment of which 13.4% had a temporary job.

For young persons aged 15-24 years old, the unemployment rate was 25.3% of the labour force of the same age group (males 30.2%, females 21.7%) in comparison to 26.7% (males 28%, females 25.6%) in the corresponding quarter of last year.

As far as the duration of unemployment, 56.6% of the total unemployed persons searched for a job for a period of less than 6 months, 13.6% for a period of 6-11 months, whereas a percentage of 29.8% were long-term unemployed. The corresponding rates for the first quarter of 2017 were 48.6%, 12.2% and 39.2%.

Source: Cyprus News Agency