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Number of Unemployed Persons Jumps 81% in September

Unemployed Sign
Jump in number of unemployed by 81%

There was an increase in the number of registered persons unemployed of 81 per cent in September 2020, from the same month in the previous year, according to data released by the Statistical Service of Cyprus on Tuesday.

There was a numerical increase of 13,750 persons from September 2019.

It is worth noting that the number of registered unemployed, based on seasonally adjusted data, has risen steadily since February.  There were  22,906 in March,  32,065 in April, 34,277 in May, 34,218 in June, 34,242
in July and 35,502 in August.
The increase is attributed mainly to the sectors of accommodation and food service activities (an increase of 5,498), trade (an increase of 2,192), transportation and storage (an increase of 826), administrative and
support service activities (an increase of 682), professional, scientific and technical activities (an
increase of 644) and education (an increase of 561).

The total unemployed persons based on actual figures was at 7,409 for accommodation and food service activities, 5,829 for the wholesale and retail trades (including motor vehicle repair),  1,464 in education,  1,511 in insurance activities, 1,908 in manufacturing activities, and 1,645 in construction.

The unemployed persons, registered at the District Labour Offices on the last day of September 2020,
reached 30,718 persons. Based on the seasonally adjusted data that show the trend of  unemployment, the number of registered unemployed for September 2020 increased to 36,452 persons from 35,502 in the previous month.

The unemployed persons, registered at the District Labour Offices on the last day of September 2020,
reached 30,718 persons. Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for September 2020 increased to 36,452 persons from 35,502 in the previous month.

There is concern that, as state support ends for many business activities, that Cyprus will see a marked increase in unemployment, but it is possible that businesses will be able to improve revenue sufficiently to limit these job losses. There services sector is already seeing an upward trend.

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