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Cyprus unemployed drop to 12,662 in November 2023

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The number of registered unemployed individuals in Cyprus decreased to 12,662 by the end of November 2023, according to a report released by the Cyprus Statistical Service (Cystat) on Tuesday.

The Statistical Service, relying on information from the District Labour Offices, noted a decrease in registered unemployed individuals to 11,808 in November 2023, down from 11,873 in the prior month.

The reported figures for November specifically were adjusted to consider seasonal variations, aiming for a more precise reflection of the unemployment trend during that period.

Moreover, comparing November 2023 to the same period in 2022, there was a decline of 2,647 unemployed individuals, a drop of 17.3 per cent.

The service explained that this reduction primarily stemmed from sectors like accommodation services, catering, trade, construction, financial, and insurance activities, along with a decrease in new entrants to the Cypriot labour market.

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