Cyprus Mail
Business

Job vacancies drop to two-year low, Cystat says

Unemployment is expected to reach 9 per cent

The number of job vacancies dropped in the last quarter of 2016, to 1,926, the lowest in two years, following the post-crisis peak of 4,989 in the previous quarter, the statistical service said.

Compared to October to December 2015, the number of vacancies fell 6 per cent as mainly hotels and restaurants sought to hire less workers, Cystat said in a statement on its website on Wednesday.

In the fourth quarter of 2016, the number of vacancies fell by 426 in the hospitality sector, compared to the respective period of 2015, which was partly offset by an increase in vacancies in the public sector, defence, and social insurance, which rose by 224, Cystat said.

The ratio of vacancies to the actual number of jobs in the economy was 0.6 per cent in the fourth quarter of 2016, compared to 1.5 per cent in July to September, and 0.7 per cent in October to December 2015, Cystat said.

“The largest vacancy ratios in the fourth quarter of 2016, were in professional, scientific and technical activities and in other services with 1 per cent,” Cystat added. ,



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