articles | 27 November 2020

Cyprus unemployment rises to 8.2% in Q3

Unemployment in the third quarter reached 8.2% compared to 6.7% in the same quarter of 2019, official data showed Thursday.

“The labour force in Q3 2020 amounted to 452,154 or 62.9% of the population (males 70%, females 56.4%) compared to 447,206 persons (63%) in Q3 2019,” CyStat said.

The number of those employed was 414,920 and the employment rate 57.7% (men 64.5%, women 51.5%) from 417,118 (58,7%) in the same quarter of 2019.

The number of unemployed amounted to 37,234 and the unemployment rate was 8.2% of the labour force (men 7.9%, women 8.6%) from 30,088 (6.7%) in Q3 2019.

The employment rate of people aged 20-64 was 74.5%. The rate for men was 81.4% and for women 68%.

In the same quarter of 2019, the rate was 75.7% (men 82.6%, women 69.2%).

For the age group 55-64 the employment rate was 61.9% from 61.7% in 2019.

The biggest employment sector was in services (77.3%), followed by manufacturing (19.8%) and agriculture (2.9%).

For Q3 2019, percentages were almost the same: services 78.8%, manufacturing 18.9% and agriculture 2.3%.

The share of part-time employment to full-time work was 10.2% or 42,481, last year it was 10.6% (men 7.8%, women 13.9%).

For those aged 15-24, the unemployment rate was higher at 20.4% up from 15.6% in the same quarter last year.

Some 53.3% of the unemployed searched for a job for less than 6 months, 19.6% for 6-11 months, whereas 27.1% were long-term unemployed.

The corresponding rates for Q3 2019 were 57.8%, 11.3% and 30.9%.

Source: Financial Mirror

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