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Business Cyprus

Jobless rate drops in Q2

File photo Nicosia unemployment office

Unemployment fell on a quarterly basis in Q2 to 15.4 per cent from 16.9 per cent, the statistical service said on Friday.

On an annual basis, the rate of unemployment remained the same.

According to the results of the labour force survey for the 2nd quarter of 2014, the number of employed people was 365,000 in Q2 (185,800 men and 179,200 women) with the number of jobless individuals being 66,700 (37,700 men and 29,000 women).

The employment rate for persons aged 20-64 was 67.8 per cent (71.7 per cent men and 64.3 per cent women) recording an increase from the previous quarter and the corresponding quarter of 2013.

The majority of those without a job were men – 16.8 per cent, compared with 13.9 per cent women.

The unemployment rate for young persons aged between 15 and 24 was 37.2 per cent of the same age group in the labour force, recording a decrease from the previous quarter of 2014 and the corresponding quarter of 2013

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