articles | 09 March 2024

Cyprus employment rises, real working hours also up

The fourth quarter of 2023 witnessed a notable surge in Cyprus’ overall employment, recording a 1.1 per cent increase compared to the same period in 2022.

According to data released this week by the Cyprus Statistical Service (Cystat), real working hours also experienced a growth of 1.5 per cent. During Q4 2023, the total number of individuals employed reached 476,767, with 427,298 being employees and 49,469 self-employed. In the same quarter of the previous year, the total employed population stood at 471,360 individuals. The most significant percentage increases were observed in the sectors of Administrative and Support Service Activities (NACE N), Education (NACE P), and Other Personal Service Activities (NACE S). It is noteworthy that in the third quarter of 2023, overall employment was at 481,321 individuals. Furthermore, the Statistical Service reported that the real working hours for the fourth quarter of 2023 amounted to 220,830, reflecting a 1.5 per cent increase compared to the corresponding quarter in 2022.

The most substantial percentage increases were seen in the sectors of Administrative and Support Service Activities (NACE N), Education (NACE P), and Other Personal Service Activities (NACE S).


Source: Cyprus Mail

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