Insider Economy Jobless up by 23% in January pushed by trade and constructions

Jobless up by 23% in January pushed by trade and constructions

The number of registered unemployed persons in January 2021 marked a reduction of 3.14% compared with December 2020 but spiked by 23% over January 2020, mainly pushed by jobless in trade and construction which were severely hit by restrictive measures to contain the spread of the coronavirus pandemic.

According to data published by the Statistical Service of Cyprus (Cystat) on seasonally adjusted basis, which shows the trend in unemployment, the number of jobless persons for January 2021 decreased to 29,579 persons in comparison to 30,328 in the previous month.

Compared with January 2020, the number of unemployed persons rose by 23.3% reaching 32,333 persons compared with 26,214 persons in January 2020, which was before the inception of the covid-19 pandemic. Compared with December 2020, jobless declined by 3.14%.

The annual increase is mainly attributed to the sector of trade (an increase of 1,833), construction (an increase of 901), professional, scientific and technical activities (an increase of 724), manufacturing (an increase of 620), education (an increase of 554) and to the newcomers in the labour market (an increase of 1,049).

By economic activity, the highest number of jobless persons in January were 7,496 in accommodation and food services, 6,035 in wholesale and retail trade and motor vehicles repairs and 2,343 from newcomers to the labour market, Cystat added.

However, Cystat noted that according to the information of the Department of Labour, the comparison of the data since March 2020 and onwards, with the data of the previous months is not safe, due to the implementation by the Public Employment Service of the extraordinary measures announced by the Ministry of Labour, Welfare and Social Insurance for automatic renewals of registered unemployed and new registrations of unemployed people without their physical presence in order to avoid the spread of coronavirus.

(CNA)

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