Unemployment down 58 per cent compared to last March

Unemployment fell by 58 per cent in March 2022, compared to the same month last year, according to the Cyprus Statistical Service (Cystat).

A report published on Wednesday said there were 13,815 registered unemployed people in March 2022, 19,115 less than in March 2021.

Cystat attributed the decrease in unemployment to the partial restart of the hospitality industry, where the number of people without work were 4,012 less than in March last year.

Other sectors that saw a considerable decrease in unemployment were trade, construction and manufacturing, Cystat said.

Nevertheless, the hospitality industry still counts the highest number of unemployed people, standing at 3,481, followed by the retail trade with 2,270 and construction with 1,035.