articles | 22 September 2016

Cyprus' unemployment rate falls to 12.1% in Q2 2016

The unemployment rate fell to 12.1% of the labour force during Q2 2016, compared to 14.1% in the previous quarter, and 14.6% in the same period last year, according to the latest data released in the Labour Force Survey.

The unemployment rate for men stood at 11.9%, and 12.3% for women The number of unemployed persons amounted to 51,070.

For persons aged 15-24 years old, the unemployment rate was 26.8% of the labour force of the same age group (males 25.2%, females 28.1%) compared to 31.7% (males 35.3%, females 28.7%) during the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 34.8% of the total unemployed persons searched for a job for a period of less than six months,18.7% for a period of six to 11 months, whereas 46.5% were long-term unemployed.

The labour force in the second quarter of 2016 amounted to 421,813 persons or 61.9% of the population (males 67.3%, females 57.0%) compared to 60.3% and 62.5% in the first quarter of 2016 and in the second quarter of 2015 respectively.

According to the distribution of employment by sector, the biggest percentage of employed persons was in services (79.4%), followed by manufacturing (16.9%) and agriculture (3.7%). For the second quarter of 2015, the corresponding percentages were: services 79.9%, manufacturing 15.8% and agriculture 4.3%.

The share of part-time employment to total employment was 14.1% or 52,176 persons (males 12.2%, females 16.0%).

Source: Cyprus Mail

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