News Local Unemployment at 7.8% in the third quarter of 2018

Unemployment at 7.8% in the third quarter of 2018

Unemployment in Cyprus in the third quarter of 2018 stood at 7.8% marking a reduction of 18.7% compared with the respective period of 2017, Cyprus Statistical Service said on Friday.

According to Cystat, the number of unemployed persons in the period of July – September declined to 34,728 with unemployment in Men amounting to 7.1% and in Women to 8.7%.

Compared with the second quarter of the year, the number of unemployed persons increased by 8.9%, reflecting seasonal changes in unemployment. In the first quarter unemployment amounted to 10.1% compared with 10.1% in the last quarter of 2017.

According to the Labour Force Survey, Cyprus labour force in the third quarter of 2018 rose to 442,456 persons or 63.1% of the population compared with 429,128 in the respective period of 2017.

Furthermore, the number of employed persons in the third quarter reached 407,728 persons, marking an increase of 5.51% compared with 386,408 in the respective quarter of 2017.

Compared with the second quarter of 2018, the number of employed persons rose by 1.35% to 407,728 from 402,302, according to the Cystat data.

(Cyprus News Agency)

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