Local
articles | 26 August 2016

14% of Cyprus' unemployed find job

Some 14.3% of people unemployed in Cyprus found a job between the last quarter of 2015 and the first quarter of 2016, according to Eurostat.

Meanwhile 77.2% of the unemployed remain jobless and 8.4% passed into ‘economic inactivity’ (retirement). Compared to a year ago, the percentage of those who actually found a job increased by +2.8 points, those who remained unemployed decreased by -4.0pp and those who transitioned to inactivity increased by +1.1pp.

According to the same Eurostat seasonal data, out of all persons in the European Union (EU) who were unemployed in the fourth quarter 2015, some 65.7% (13 million persons) remained unemployed in the first quarter 2016, while 15.4% (3 million) moved into employment and 18.9% (3.7 million) moved into economic inactivity in Q1 2016.

Of all those initially in employment, 96.2% (169.7 million) remained in employment, while 1.7% (2.9 million) of those employed in the fourth quarter 2015 were observed to be unemployed in the first quarter 2016, and 2.2% (3.8 million) transitioned into economic inactivity.

Source: Cyprus Mail

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