There was a significant surge in Cyprus’ labour force, coupled with a decline in the number of unemployed individuals, in the second quarter of the year, according to a report by the state’s statistical service.

According to the report, which is based on a survey conducted by the statistical service, during the second quarter of the year, the labour force increased to 494,246 individuals.

These constituted 65.6 per cent of the population (males 70.6 per cent, females 61.1 per cent), compared to 482,385 individuals (65.1 per cent) during the same period in 2022.

The number of employed individuals reached 464,878, with an employment rate of 61.7 per cent (males 66.3 per cent, females 57.5 per cent), compared to 449,482 individuals (60.6 per cent) in the corresponding quarter of 2022.

The number of unemployed individuals stood at 29,367, resulting in an unemployment rate of 5.9 per cent of the labour force (males 6.0 per cent, females 5.8 per cent), compared to 32,903 individuals (6.8 per cent) during the same quarter in 2022.

In the services sector, 81.3 per cent of the employed individuals were found.

Regarding employment, the research demonstrated that the employment rate for individuals aged 20-64 was 79.2 per cent.

For males, the rate was 84.0 per cent, and for females, it was 74.8 per cent. In the corresponding quarter of 2022, the rates were 78.0 per cent (males 84.2 per cent, females 72.2 per cent).

For those aged 55-64, the employment rate was 67.2 per cent, compared to 65.9 per cent in the same quarter of 2022.

Regarding the distribution of employment by sector, the services sector had the highest percentage of employed individuals at 81.3 per cent, followed by the industry at 16.6 per cent, and agriculture at 2.1 per cent.

For the second quarter of 2022, the corresponding percentages were: services 80.7 per cent, industry 16.8 per cent, and agriculture 2.5 per cent.

Additionally, part-time employment accounted for 9.0 per cent of total employment, with 41,671 individuals (males 6.9 per cent, females 11.2 per cent), compared to 10.9 per cent (males 9.0 per cent, females 13.0 per cent) in the second quarter of 2022.

Out of the total employed population, 89.6 per cent or 416,730 individuals were employees, of which 13.4 per cent (55,714 individuals) had temporary employment.

In the same quarter of 2022, employees comprised 89.1 per cent of total employment, with 11.4 per cent having temporary employment.

For individuals aged 15-24, the unemployment rate was 15.6 per cent of the labour force within that age group (males 18.2 per cent, females 13.0 per cent), compared to 17.6 per cent (males 16.3 per cent, females 18.9 per cent) in the same quarter of the previous year.

Regarding the duration of unemployment, 49.3 per cent of all unemployed individuals were seeking employment for a period of less than 6 months, 17.8 per cent for 6-11 months, while 32.9 per cent were long-term unemployed.

The corresponding percentages for the second quarter of 2022 were 49.3 per cent, 13.3 per cent, and 37.4 per cent, respectively.

The Cyprus University of Technology (Tepak) this week announced the launch of its “POST-DOCTORAL” Research Programme Funding Call for 2023, marking the third consecutive year of the initiative.

The programme, in line with the university’s commitment to promoting and strengthening research, excellence, and innovation, invites high-quality post-doctoral scientists to submit their research proposals. The new deadline for proposal submissions is September 29, 2023.

The primary objective of the “POST-DOCTORAL” programme is to attract and support post-doctoral researchers capable of conducting independent research that yields significant results.

The university explained that implementing these internal research programmes aims to foster creativity and innovation among emerging scientists and engage them in the development of novel research activities.

This initiative also offers promising prospects for their scientific and professional growth while contributing to the creation of job opportunities for young researchers in cutting-edge fields.

For additional information or clarifications, please contact [email protected].

The Cyprus Stock Exchange (CSE) ended Thursday, September 7 with losses.

The general Cyprus Stock Market Index was at 133.21 points at 12:55 during the day, reflecting a decrease of 0.34 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 80.90 points, representing a drop of 0.36 per cent.

The total value of transactions came up to €93,286.

In terms of the sub-indexes, the main, alternative, investment firm and indexes all fell, decreasing by 0.56 per cent, 0.21 per cent and 2.61 per cent respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (+0.34 per cent), Demetra Holdings (-2.7 per cent), the Cyprus Cement Company (-1.48 per cent), Vassiliko Cement Works Public Company (no change), and Hellenic Bank (no change).