Cyprus Mail
Business Cyprus

Unemployment payments down

File photo of the unemployment office

Unemployment benefits payments fell 11.3 per cent year-on-year in the first eight months of 2014, social insurance data showed.

August recorded the second biggest annual drop in payments – 47.3 per cent or €4.7 million compared with €9.0 million in August 2013.

The biggest annual decrease was recorded in April, 68.3 per cent.

The total amount paid by social insurance in the first eight months of the year reached €92.3 million compared with €104.1 million in 2013.

Unemployment in Cyprus fell to 15.4 per cent in August compared with 15.7 per cent the previous month, according to the EU’s statistical service Eurostat.

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