Insider Business Unemployment drops to 7.3% in 2Q 2018

Unemployment drops to 7.3% in 2Q 2018

Unemployment in Cyprus fell to 7.3% in the second quarter of 2018 compared to 10.6% in the same quarter of 2017, the Cyprus Statistical Service said

Youth unemployment (ages 15-24) was also down in the second quarter of this year to 17.9% of the labour force compared to 25.3% in the second quarter last year.

At the same time, 44.8% of unemployed searched for a job for a period of less than 6 months, 21.5% for a period of 6-11 months and 33.7% were categorised as long-term unemployed during the second quarter of 2018.

The corresponding rates for the 2nd quarter of 2017 were 35.7%, 18.0% and 46.3%.

According to the results of the Labour Force Survey, the labour force in the 2nd quarter of 2018 amounted to 434,191 persons or 62.0% of the population compared to 425,936 people or 61.5% in the same quarter of 2017, as Statistical Service press release says.

The number of people in employment was 402,302 and the employment rate 57.4% compared to 380,709 persons or 55.0%) in the same of last year.

“The number of unemployed persons amounted to 31,888 and the unemployment rate to 7.3% of the labour force (males 7.2%, females 7.5%) in comparison with 45,227 persons (10.6%) in the corresponding quarter of 2017,” the press release adds.

The employment rate for the age group 20-64 reached 74.9%. The rate for men was 80.0% and for women 70.0%.

In the same quarter of 2017 the rate was 71.1%.

The employment rate for the age group 55-64 was 61.7% in comparison to 53.7% in the corresponding quarter of 2017.

According to the distribution of employment by sector, the biggest percentage of employed persons was in services (81.6%), followed by manufacturing (16.3%) and agriculture (2.1%).

The corresponding percentages in the second quarter of 2017 were: services 80.3%, manufacturing 17.3% and agriculture 2.4%.

The share of part-time employment to total employment was at the same time this year 12.1% or 48,584 people while last year 12.8%.

A percentage of 87.1% or 350,250 of the total people in employment were employees, of which 15.0% or 52,624 people had a temporary job. In the same period of last year employees accounted for 87.4% of total employment of which 16.0% had a temporary job.

(Cyprus News Agency)

Top Stories

Defense Minister: Enhancing relations with Gulf states a priority

Enhancing our relations with Gulf states, which are developed militarily and have significant capabilities and defence equipment, is among our priorities, Cyprus Minister of...

Temperature in Cyprus tonight at -6 C

This afternoon the weather will be mainly fine but chilly while Troodos mountain will be covered with frost. In the evening the weather will...

Doctor says lockdown “expression of our incompetence”

In a posting on social media, pulmonologist Charis Armeftis is wondering whether the “lockdown is nothing more than the expression of our incompetence?”  He...

Some 3.7 million euros to farmers due to coronavirus

So far, an amount of 2.4 million euros has been deposited in the accounts of producers who have been affected by the COVID-19 pandemic...

24-year-old who was speeding was deprived of driving license

On 3 January, a 24-year-old was stopped at the Larnaca-Kofinou road because he was driving at 207 kilometers. He was scheduled to appear before a...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...