Cyprus jobless drops 13.7% y/y in June 2016

The number of registered unemployed fell year on year by 5,611 or 13.7% in June 2016 to reach 35,265 according to the latest data from the Statistical Service, Cystat.

Cystat said the main falls were mainly in the sectors of construction (a year-on-year decrease of 1,262), wholesale and retail trade (a decrease of 848), accommodation and food service activities (a decrease of 786), manufacturing (a decrease of 725), public administration (a decrease of 527) and transportation (a decrease of 496).

On a seasonally adjusted basis, which shows the overall trend of unemployment, the number of registered unemployed for June 2016 decreased to 37,734 persons compared with 37,973 in the previous month.

According to separate data from Eurostat, Cyprus recorded an unemployment rate of 12.0% in May 2016.

Source: InCyprus