Cyprus Business Now

The number of job vacancies suffered a 3 per cent decrease during the third quarter of the year, according to the Cyprus Statistical Service (CyStat), with the number of job vacancies reaching 6,358.

The number of job vacancies decreased by 196 (-3.0 per cent) compared to the same quarter of the previous year when the figure stood at 6,554.

Compared to the second quarter of 2021, the number of job vacancies decreased by 1,039 (-14.0 per cent).

The job vacancy rate in the third quarter of 2021 was 2.4 per cent, while the job vacancy rate in the previous quarter and the third quarter of 2020 was 2.6 per cent and 1.7 per cent respectively.

The largest job vacancy rates in the third quarter of the year were observed in the sectors of accommodation and food service activities (5.8 per cent), administrative and support service activities (3.8 per cent), public administration and defence, compulsory social security (3.1 per cent) and electricity, gas, steam and air conditioning supply (2.9 per cent).

The coming months will be challenging for workers and they must not bear the losses of their employers, labour union Peo said during its annual conference on December 10.

“We have great challenges ahead of us and it is apparent that there will be an effort by a large share of employers to shift the effects of this crisis on the shoulders of workers and vulnerable groups of the population,” Peo said in a statement.

“We are called during this time to fight for workers’ rights and their dignity, for a fairer distribution of the wealth produced for the benefit of the many, so that social and economic inequalities are reduced,” the union added.

Peo also said that the fight for the implementation of the minimum wage should act as a catalyst for the “complete reform of the labour market”.

The Cyprus Stock Exchange (CSE) ended Wednesday, December 15 with losses.

The main Cyprus Stock Market Index was at 66.62 points at 13:19 during the day, reflecting a drop of 0.46 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 39.88 points, which represents a 0.47 per cent decrease.

The total value of transactions came up to €77,456.

In terms of sub-indexes, the main index fell by 0.86 per cent, while the investment firm index fell by 2.83 per cent.

The alternative index rose by 0.27 per cent, while the hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.97 per cent), Vassiliko Cement Works (+0.74 per cent), Proodos (no change), Atlantic Insurance (+1.18 per cent) and Philoktimatiki Public (-10 per cent).