Cyprus Mail
Business Cyprus

Unemployment rate drops to 10.1% in Q4, Cystat says

File photo of the unemployment office

The unemployment rate in the last three months of 2017 fell to 10.1 per cent, from 12.8 per cent in the fourth quarter of 2016, the statistical service said citing its labour force survey.

The drop in the unemployment rate in the fourth quarter last year was on both a decrease in the number of jobless, to 43,113 from 54,303 in the respective three-month period of 2016, and an increase in the number of people in employment, to 384,141 from 368,694 respectively, Cystat said in a statement on its website on Friday.

The labour force increased in the last quarter of 2017, to 427,264 from 422,997 a year before, Cystat said.

In the last quarter of last year, the youth unemployment rate was 22.9 per cent compared to 29.8 per cent in October to December 2016, Cystat said. Among men, the jobless rate was 10.4 per cent compared to 9.8 per cent among women.

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