Unemployment drops to 10% in Q3 2017

The unemployment rate fell at the end of the third quarter of 2017 to 10%, from 12.9%, in the respective period of 2016, and 10.6% in April to June, the statistical service said citing its quarterly labour force survey.

Last quarter’s unemployment rate is the lowest since 2012 when it hit double digits for the first time, Cystat said in a statement on its website. The number of unemployed in the third quarter was 42,526.

The unemployment rate among youths was 23.9% in June to September, down from 30.1% a year before, Cystat said. The unemployment rate among men was 9.5% and 10.5% among women, down from 12.5% and 13.4% respectively.

The number of people with a job rose in the third quarter to 384,516, from 367,395 in the respective period of 2016, Cystat said. The employment rate rose to 55.7%, from 53.9% respectively.

The number of persons out of job for more than 12 months was 18,425, in the third quarter, down from 24,562 a year before, and made up 43% of all job seekers, Cystat said.

Source: Cyprus Mail