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The number of registered unemployed individuals in Cyprus decreased to 10,357 at the end of May 2023, compared to both the previous month, as well as May of the previous year, according to a report released this week by the Cyprus Statistical Service (Cystat).

Moreover, the number of registered unemployed individuals stood at 11,284 in April 2023, while in May 2022, it amounted to 10,586.

Compared to May 2022, according to the report, there was a decrease of 229 individuals, a drop of 2.2 per cent, mainly attributed to the sectors of accommodation and food services, trade, and construction, as well as a decrease in the form of newcomers to the labour market.

Furthermore, based on seasonally adjusted data that reflect the trend in unemployment, the number of registered unemployed individuals remained stable in May 2023, compared to the previous month, reaching 13,248 individuals. Finally, when compared to May 2022, there was a minor increase of 24 individuals.

 

There was a decrease in the number of building permits issued in Cyprus during the first quarter of 2023, compared to the corresponding quarter of the previous year, despite the fact that the total value and area of these permits registered an increase.

According to a report released this week by the Cyprus Statistical Service (Cystat), 1,816 building permits were issued during the period of January to March 2023, compared to 1,951 during the corresponding period of the previous year, reflecting a decrease of 6.9 per cent.

The total value of these permits increased by 6.9 per cent and the total area increased by 6.5 per cent. In addition, the number of residential units saw a decrease of 3.2 per cent.

Moreover, the number of building permits issued by the municipal authorities and district administrations in March 2023 increased to 673, compared to 642 in March 2022.

The total value of these permits reached €242.8 million, compared to €209.7 million in March from the previous year.

The total area of these permits stood at 207,900 square meters, compared to 176,700 square meters previously.

Finally, these permits are expected to result in the construction of 876 residential units.

 

The Cyprus Stock Exchange (CSE) ended Thursday, June 8 with profits.

The general Cyprus Stock Market Index was at 111.68 points at 14:18 during the day, reflecting an increase of 0.05 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 67.54 points, representing a rise of 0.06 per cent.

The total value of transactions came up to €233,932.

In terms of the sub-indexes, the main index rose by 0.2 per cent, while the alternative and hotel indexes fell by 0.36 per cent and 1.75 per cent respectively. The investment firm index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.36 per cent), Hellenic Bank (-0.56 per cent), Lordos Hotels (-2.53 per cent), Demetra (no change), and Petrolina Holdings (-1.79 per cent).

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