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Cyprus' unemployment rate at 10,6% in the second quarter of 2017

Cyprus' unemployment rate at 10,6% in the second quarter of 2017
According to the results of the Labour Force Survey, the labour force in the second quarter of 2017 amounted to 424.807 persons or 61,4% of the population (males 66,6%, females 56,7%) in comparison to 417.080 persons (61,3%) in the corresponding quarter of 2016.

The number of employed persons was 379.842 and the employment rate 54,9% (males 59,9%, females 50,4%) in comparison to 366.742 persons (53,9%) in the corresponding quarter of 2016.

The number of unemployed persons amounted to 44.965 and the unemployment rate stood at 10,6% of the labour force (males 10,1%, females 11,1%) in comparison with 50.339 persons (12,1%) in the corresponding quarter of 2016.

For the age group 20-64, the employment rate was 71,0%. The rate for males was 76,2% and for females 66,2%. In the corresponding quarter of 2016 the rate was 69,8% (males 74,9%, females 65,0%). For the age group 55-64 the employment rate was 53,7% in comparison to 52,9% in the corresponding quarter of 2016.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (80,3%), followed by Manufacturing (17,3%) and Agriculture (2,4%). For the 2nd quarter of 2016, the corresponding percentages were: Services 79,4%, Manufacturing 16,9% and Agriculture 3,7%.

The share of part-time employment to total employment was 12,8% or 48.666 persons (males 10,3%, females 15,6%). The corresponding rate for the 2nd quarter of 2016 was 14,1% (males 12,2%, females 16,1%).

87,3% or 331.694 of the total employed persons were employees, of which 16,0% (53.221 persons) had a temporary job. In the corresponding quarter of 2016 employees accounted for 85,3% of total employment of which 18,5% had a temporary job.

For young persons aged 15-24 years old, the unemployment rate was 25,3% of the labour force of the same age group (males 26,3%, females 24,4%) in comparison to 26,7% (males 25,2%, females 27,9%) in the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 35,8% of the total unemployed persons searched for a job for a period of less than 6 months, 18,0% for a period of 6-11 months, whereas a percentage of 46,2% were long-term unemployed. The corresponding rates for the second quarter of 2016 were 34,5%, 18,7% and 46,8%./IBNA

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