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Employment rate in third quarter of 2021 at 60.3 per cent

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The employment rate in the third quarter of 2021 stood at 60.3 per cent compared to 57.7 per cent in the same quarter of 2020, data released by the Cyprus Statistical Service (CyStat) on Monday, show.

In particular, according to the results of the Labour Force Survey, the labour force in the 3rd quarter of 2021 amounted to 472,314 persons or 64.6 per cent of the population (males 70.6 per cent, females 59.0 per cent) in comparison to 452,154 persons (62.9 per cent) in the corresponding quarter of 2020.

The number of employed persons was 440,959 and the employment rate 60.3 per cent (males 66.3 per cent, females 54.8 per cent) in comparison to 414,920 persons (57.7 per cent) in the corresponding quarter of 2020.

The number of unemployed persons amounted to 31,355 and the unemployment rate to 6.6 per cent of the labour force (males 6.1 per cent, females 7.2 per cent) in comparison to 37,234 persons (8.2 per cent) in the corresponding quarter of 2020.

For the age group 20-64, the employment rate was 77.2 per cent. The rate for males was 83.2 per cent and for females 71.5 per cent. In the corresponding quarter of 2020, the rate was 74.5 per cent (males 81.4 per cent, females 68.0 per cent). For the age group 55-64 the employment rate was 65.5 per cent in comparison to 61.9 per cent in the corresponding quarter of 2020.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (79.9 per cent), followed by Manufacturing (17.3 per cent) and Agriculture (2.8 per cent). For the 3rd quarter of 2020, the corresponding percentages were: Services 77.3 per cent, Manufacturing 19.8 per cent and Agriculture 2.9 per cent.

The share of part-time employment to total employment was 11.0 per cent or 48,482 persons (males 9.4 per cent, females 12.7 per cent). The corresponding rate for the 3rd quarter of 2020 was 10.2 per cent (males 7.9 per cent, females 13.0 per cent).

CyStat said that 88.1 per cent or 388,296 of the total employed persons were employees, of which 13.0 per cent (50,548 persons) had a
temporary job. In the corresponding quarter of 2020 employees accounted for 86.1 per cent of total employment of
which 13.1 per cent had a temporary job.

For young persons aged 15-24 years old, the unemployment rate was 14.5 per cent of the labour force of the same age group (males 14.1 per cent, females 14.9 per cent) in comparison to 20.4 per cent (males 30.2 per cent, females 10.8 per cent) in the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 42.8 per cent of the total unemployed persons searched for a job for a period of less than 6 months, 24.3 per cent for a period of 6-11 months, whereas a percentage of 32.9 per cent were long-term unemployed. The corresponding rates for the 3rd quarter of 2020 were 53.3 per cent, 19.6 per cent and 27.1 per cent.

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