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Cyprus

Unemployment rate falls to 12.1 per cent

The unemployment rate fell to 12.1 per cent of the labour force during the second quarter of 2016, compared to 14.1 per cent in the previous quarter, and 14.6 per cent in the same period last year, according to the latest data released in the Labour Force Survey.

The unemployment rate for men stood at 11.9 per cent, and 12.3 per cent for women The number of unemployed persons amounted to 51,070.

For persons aged 15-24 years old, the unemployment rate was 26.8 per cent of the labour force of the same age group (males 25.2 per cent, females 28.1 per cent) compared to 31.7 per cent (males 35.3 per cent, females 28.7 per cent) during the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 34.8 per cent of the total unemployed persons searched for a job for a period of less than six months, 18.7 per cent for a period of six to 11 months, whereas 46.5 per cent were long-term unemployed.

The labour force in the second quarter of 2016 amounted to 421,813 persons or 61.9 per cent of the population (males 67.3 per cent, females 57.0 per cent) compared to 60.3 per cent and 62.5 per cent in the first quarter of 2016 and in the second quarter of 2015 respectively.

According to the distribution of employment by sector, the biggest percentage of employed persons was in services (79.4 per cent), followed by manufacturing (16.9 per cent) and agriculture (3.7 per cent). For the second quarter of 2015, the corresponding percentages were: services 79.9 per cent, manufacturing 15.8 per cent and agriculture 4.3 per cent.

The share of part-time employment to total employment was 14.1 per cent or 52,176 persons (males 12.2 per cent, females 16.0 per cent).

(CNA)

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