Cyprus sees increase in employment

Employment in Cyprus increased by 1.9% in the second quarter of 2022, in comparison to the corresponding quarter of the previous year, reaching 458,706 persons. However, actual working hours increased by 5.2% in the same period and are estimated at 207.154 million, according to data published by the Statistical Service (CyStat).

Of the 458,706 persons employed, 408,922 are employees and 49,786 are self-employed.

According to the official data, the most significant percentage increases were observed in the economic activities of accommodation and food services, information and communication, real estate activities, wholesale and retail trade, and the repair of motor vehicles and motorcycles.

In actual hours worked for the second quarter of 2022, the most significant percentage increases were observed in the economic activities of accommodation and food services, the arts, entertainment and recreation, other service activities, real estate activities and administrative and support service activities.

In August the CyStat Labor Force Survey showed that the unemployment rate in Cyprus was 6.8% of the labor force in the Q2 of 2022, down 1.6% year-on-year.