Cyprus Business Now

The number of job vacancies in Cyprus in the fourth quarter of 2022 amounted to 7,821 in total, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, the number of job vacancies decreased by 1,822, a drop of 18.9 per cent, compared to the corresponding quarter of the previous year, when vacancies amounted to 9,643.

In terms of the third quarter of 2022, there was a decrease of 1,353 positions, a decline of 14.7 per cent quarter-on-quarter.

The overall vacancy rate in the fourth quarter of 2022 was 1.9 per cent, while in the previous quarter and the corresponding quarter of 2021, it stood at 2.2 per cent and 2.4 per cent respectively.

The highest percentages of vacancies in the fourth quarter of 2022 were observed in the sectors of accommodation services and catering services with 3 per cent, followed by water supply, wastewater treatment, waste management and sanitation activities with 2.9 per cent.

Finally, the vacancy percentage in the sectors of financial and insurance activities, administrative and support activities and education stood at 2.5 per cent respectively.

Employment in Cyprus’ broader public sector increased by 1,033 people in the fourth quarter of 2022, compared to the corresponding quarter of 2021, marking a rise of 1.4 per cent, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, the total number of employees in the broader public sector in the fourth quarter of 2022 stood at 72,596.

In terms of general government staff, these amounted to 66,823 people. Members of staff in companies and enterprises controlled by the government amounted to 5,773.

Regarding the general government, which consists of government, non-profit organisations and local authorities, employment amounted to 53,498, 8,897 and 4,428 people respectively.

Employment in the central government increased by 892 people, a rise of 1.5 per cent, followed by a rise of 11 people in local authorities, an increase of 0.2 per cent, and government-controlled entities with a rise of 130 people, an increase of 2.3 per cent.

Compared to the third quarter of 2022, employment in the broader public sector increased by 2,167 people, a growth of 3.1 per cent.

Moreover, there was an increase in employment across all three categories. Central government employees increased by 2,039 people, a rise of 3.4 per cent, followed by 58 new members of staff in local authorities, a rise of 1.3 per cent, as well as a rise of 1.2 per cent in government-controlled entities, who grew by 70 people.

The Cyprus Stock Exchange (CSE) ended Friday, March 17 with losses.

The general Cyprus Stock Market Index was at 104.96 points at 13:07 during the day, reflecting a decrease of 0.31 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 63.43 points, representing a drop of 0.31 per cent.

The total value of transactions came up to €72,532.

In terms of the sub-indexes, the main, alternative and investment firm indexes fell by 0.34 per cent, 0.43 per cent and 1.77 respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Logicom (no change), Hellenic Bank (no change), Demetra (-1.85 per cent) and the Cyprus Cement Company (-3.17 per cent).