Unemployment rate drops by 6.8 per cent in July 2023

There was a decrease of 6.8 per cent, totalling 958 individuals, recorded among the registered unemployed in Cyprus during July 2023, according to a report released this week by the state’s statistical service.

Based on the records kept by the District Labour Offices, the number of registered unemployed at the end of July 2023 reached 13,187 persons.

What is more, adjusted data for seasonal fluctuations, which indicate the unemployment trend, showed that the number of registered unemployed in July 2023 decreased to 13,180 persons, compared to 13,205 in the previous month.

Compared to July 2022, there was a decrease of 958 individuals or 6.8 per cent, primarily attributed to the trade, accommodation, and food services sectors, construction, administrative, and support service activities.

In addition, the aforementioned decrease was also supported by new entrants to the domestic labour market.