Cyprus Mail
Business Cyprus

Unemployment rises in Q1, to 10.7%, Cystat says

The unemployment rate in the first quarter of the year rose to 10.7 per cent, from 10.1 per cent the previous quarter, revising previous estimates upwards, a likely sign the economy is slowing.

Compared to the first quarter of 2017 –when the percentage of people out of work was 13.5 per cent– the number of jobless fell by 10,952 to 46,468, Cystat said in a statement on its website on Friday. The number of unemployed people rose in the first quarter by 3,355 compared to October to December.

The unemployment rates announced by Eurostat for January, February, and March were 9.9 per cent, 9.4 per cent, and 9 per cent respectively, or a three-month average of 9.4 per cent.

The total labour force in the first quarter was 432,566, up from 423,794 the previous year, and 427,264 in the last three months of 2017, Cystat said.

The unemployment rate among youths was 25.7 per cent, up from 22.9 per cent the previous quarter but lower than the 26.7 per cent in the first three months of 2017, Cystat said.

The unemployment rate among men was 10.3 per cent in the first three months of 2018 and 11.2 per cent among women, Cystat said.

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