Unemployment rate reached 6.9% of the labour force for the 4th quarter of 2022, according to data published by the Statistical Service of Cyprus. For the same period, the unemployment rate for young persons aged 15-24 stood at 19.2%, while one in three people without a job are long-term unemployed.
According to the results of the Labour Force Survey, the labour force in the 4th quarter of 2022 amounted to 489,650 persons or 65.5% of the population. In comparison, in the corresponding quarter of 2021, the labour force amounted to 473,537 persons or 64.5%.
The number of employed persons was 455,727 and the employment rate 61%, in comparison to 443,937 persons, or 60.5% in the corresponding quarter of 2021. The number of unemployed persons amounted to 33,922 and the unemployment rate to 6.9% of the labour force, of which 15,291 males and 18,631 females. In Q4, 2021 29.600 persons or 6.3% were unemployed.
For the age group 20-64, the employment rate was 78.1%. The rate for men was 84.2% and for women 72.5%. In the corresponding quarter of 2021 the rate was 77.6%. For the age group 55-64 the employment rate was 65.3% in comparison to 65.7% in the corresponding quarter of 2021.
According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (80.3%), followed by Manufacturing (17.4%) and Agriculture (2.3%). For the 4th quarter of 2021, the corresponding percentages were: Services 81.1%, Manufacturing 16.5% and Agriculture 2.4%.
The share of part-time employment to total employment was 10.1% or 45,916 persons, of which 17,821 men and 28,095 women. The corresponding rate for the 4th quarter of 2021 was 11.2%.
A 89.3% or 406,907 of the total employed persons were employees, of which 11.3% had a temporary job. In the corresponding quarter of 2021 employees accounted for 88.9% of total employment of which 12.3% had a temporary job.
For young persons aged 15-24 years old, the unemployment rate was 19.2% of the labour force of the same age group in comparison to 17.4% in the corresponding quarter of last year.
As far as the duration of unemployment is concerned, 54% 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 32.4% were long-term unemployed. The corresponding rates for the 4th quarter of 2021 were 47.7%, 16.2% and 36.1%.
Source: Cyprus News Agency