Cyprus' unemployment drops in October 2016

The numberof registered unemployed fell 8.9% year-on-year in October 2016, to 33,706, the lowest figure since January 2012, the statistical service said.

On a monthly basis, the number of registered unemployed dropped by 301 in October compared to September, Cystat said in a statement on its website on Thursday. The seasonally adjusted number of registered unemployed rose by 171 last month, to 37,475, which is the lowest for more than four years. The seasonally adjusted jobless figure dropped 9.5% last month compared to October 2015.

The drop last month was mainly due to a decrease of jobless in the construction sector by 1,145, in manufacturing by 593, trade by 437, transportation by 429, accommodation by 279 and public administration by 266, Cystat said. The number of newcomers fell by 230.

Source: Cyprus Mail