ECONOMY

Cyprus jobless rate up to 8.4% in Q2

cyprus-jobless-rate-up-to-8-4-in-q2

The number of registered unemployed in Cyprus in the second quarter of 2021 was 39,224, taking the jobless rate to 8.4% (7.5% for men and 9.5% for women) from 30,451 (6.8%) in the same quarter last year.

According to the Statistical Service, the labor force in Q2 amounted to 466,525 people, or 63.9% of the population, with 70.4% of men and 57.9% of women in the labor force. Of them, 78.5% were employed in services, 18.6% in manufacturing and 2.3% in agriculture.

Part-time employees accounted for 11.8% of the workforce (10.1% of men and 12.8% of women).

For young people aged 15-24, the unemployment rate was 17% (14.8% for males and 19.3% for females) compared to 17.8% (21.8% for males and 14.1% for females) in Q2 2020.

Some 40.5% of the unemployed searched for a job for less than six months and 24.0% for six to 11 months, whereas 35.5% were long-term unemployed. The corresponding rates for Q2 2020 were 57.6%, 15.3% and 27.1%. [Financial Mirror]