Cyprus: Employment rate lower than in the EU

The general employment rate of the population aged 20-64 years has declined to a great extent as a consequence of the recent economic crisis, and as of 2013 it is lower than the corresponding rate in the European Union, a study of the Human Resource Development Authority (HRDA) has revealed.

The study showed that the biggest problems have been reported among men, young people aged 15-24, and those with lower secondary education and up to post-secondary non-tertiary education.
 
The main purpose of the study is to examine and analyse the employment and unemployment indicators, the indicators related to the participation in and supply to the labour market, as well as the education and training performance indicators in Cyprus for the period 2010-2016.
 
However, it is noted that the continuous improvement of the general employment rate, which from 67.2% in 2013 (lower percentage period) increased to 68.7% in 2016, reflects the gradual recovery of the Cypriot economy.
 
Moreover, the male employment rate in Cyprus is considerably higher than that of women. However, it is noted that while the difference between the two in 2010 was 12.9 percentage points, in 2016 it fell significantly to 9.7 percentage points.
 
According to the study`s findings, the overall year-over-year unemployment rate among people over 15 years old in Cyprus rose dramatically from 2010 to 2014. However, as a result of the significant recovery in the economy it recorded a significant drop to 12.9% in 2016.
 
As of 2012, the percentage in Cyprus is higher than the corresponding rate in the European Union.
 
According to the study, the unemployment affected both men and women and was particularly observed among young people as well as among people with secondary education but also with postgraduate non-tertiary education. Additionally, there has been a very large increase in the number of long-term unemployed despite the reduction that has been observed since 2015.