Cyprus Mail
Cyprus

Jobless rate for under 24s was over 40 per cent in second quarter

University students

By Maria Gregoriou

A TOTAL of 68,300 people were unemployed in Cyprus in the second quarter of the year, according to a labour force survey published yesterday by the Cyprus statistical services, Cystat.

The unemployment rate came to an estimated 15.5 per cent of the labour force, compared with 11.3 per cent in the corresponding period last year, but marking a small drop from the first quarter of 2013 when figures stood at 15.9 per cent. An estimated 16.2 per cent of the unemployed in the second quarter of the year were men and 14.6 per cent were women.

The unemployment rate for persons aged between 15 and 24 was estimated at 40.3 per cent, an increase from the first quarter of 2013, when the figure stood at 37.5 per cent as well as compared with the second quarter of 2012, when 25.9 per cent of that age group were unemployed.

From the 68,300 unemployed people, some 37,700 were men and 30,600 were women. A total of 373,700 were employed, 194,500 men and 179,200 women.

The employment rate for 20 to 64 years-old was 67.3 per cent, of which 72.9 per cent were men and 62.1 per cent were women. In the same time period last year, the employment rate stood at 70.7 per cent, with 76.8 per cent of men being employed compared with 65.2 per cent of women.

The sum of employed and unemployed, came to 434,236 in the beginning of April last year, whereas at the start of April this year the labour force came to 446,099 or 11,863 more people, according to cystat data.

According to economist Costas Apostolides about 500 jobs were advertised or notified in the first quarter of the year. In the same period last year there were over 2,000 jobs advertised, 4,600 in both 2010 and 2011, and over 7,500 in 2009, Apostolides said in an early August Sunday Mail article detailing unemployment figures. In addition to fewer jobs being available, there were 1,856 more newcomers in the labour market in August 2013 compared with August 2012. In total, 3,301 entered the labour force for the first time in August last year compared with 5,157 newcomers this August.



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