Registered unemployed in Cyprus decline by 11.4%

The number of registered unemployed decreased in August 2023, both on an annual and monthly basis, according to data released on Tuesday by the Statistical Service of Cyprus (CyStat).

Based on seasonally adjusted data, which reflect the unemployment trend, a decrease of 1,705 individuals or 11.4% was recorded compared to August 2022.

This reduction can be primarily attributed to the sectors of trade, accommodation and food services, administrative and support service activities, and construction, as well as a decrease in newcomers to the labor market.

In August 2023, the number of registered unemployed decreased by 1.23% to 12,881 individuals compared to 13,042 the previous month, based on seasonally adjusted figures.

According to data maintained separately by the District Labor Offices, the number of registered unemployed at the end of August 2023 reached 13,256.