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Unemployment drops to 10.1% in Q4 2017

09/03/2018 15:37

Unemployment dropped at 10.1% in the fourth quarter of 2017, compared to 12.8% in the same quarter of 2016, data released by the Cyprus Statistical Service on Friday show.

In particular, on the basis of a Labour Force Survey, the number of unemployed people was in the fourth quarter of 2017 43,113 or 10.1% of the workforce. In women, unemployment was 10.4% and in men slightly lower at 9.8%. In the fourth quarter of 2016 registered unemployed people were 54,303 or 12.8 of the workforce.

Total labour force comprised 427,264 people or 61.5% of the population, 66.3% men and 57.2% women compared with 422,997 people or 61.9% of the population at the same quarter of 2016.

A total of 384,151 people was in employment and the employment rate stood at 55.3%, 59.4% for men and 51.6% for women, compared to 368,694 people or 53.9% at the same quarter of 2016.

The employment rate for people aged between 20 and 64 was 71.4%. In men the percentage is slightly higher at 75.6% while in women lower at 67.6%. During the same quarter of 2016 the employment rate was 69.4%, 74.7% in men and 64.4% in women.

The employment rate for people aged 55 to 64 was 57.7% compared to 53.5% in the fourth quarter of 2016.

Services enjoyed the greater employment rate with 81.2%, followed by industry with 16.5% and agriculture with 2.3%. In the fourth quarter of 2016 79.4% of people employed worked in services, 17.4% in industry and 3.2% in agriculture.

Part time employment accounted for 12.7% of total employment or 48,816 people, 9.2% men and 16.4% women.The corresponding percentage for the fourth quarter of 2016 was 14.6%, 12% men and 17.6% women.

A total of 333,555 or 86.8% of all people in employment were employees, 14.9% of those or 49,535 people was in temporary employment. At the same quarter of 2016 employees constituted 86.2% of the total people employed and 14.6% was in temporary employment.

Υouth unemployment for people aged between 15 and 24 was recorded at 22.9% of the workforce, 26.7% in men and 19.7% in women. In the same quarter of the previous year, youth unemployment was 29.8%, 22.4% in men and 36% in women.

At the same time 53.4% of total unemployed was looking for a job for a period of less than six months, 12.95 for a period between 6 and 11 months, while 33.7% were long term unemployed. The corresponding percentages for the fourth quarter of 2016 were 39%, 16.2% and 44.8%.

The survey covers a sample of 3,800 households across Cyprus in both urban and rural areas.