ECONOMY

Cyprus unemployment rate reaches 16.2 percent

The jobless rate in Cyprus reached 16.2 percent of the work force in the third quarter of the year, according to the statistical service in Nicosia.

This means unemployment has posted an increase of 0.7 percentage points compared with the same period in 2012.

The share of unemployed among those aged between 15 and 24 years reached 38.5 percent, which was 1.8 percent less than in the second quarter of the year, thanks to the seasonal effect of tourism, but in comparison with the same quarter last year the rate has posted a 12.1 percent rise, data showed.