Cyprus' unemployment was 10% in the third quarter of 2017 - CyStat

Cyprus' unemployment was 10% in the third quarter of 2017 - CyStat
Based on the results of the Labour Force Survey (LFS) for the third quarter of 2017, the workforce amounted to 427,042 people or 61.9% of the population (men 67.1%, women 57.1%) compared to 421.798 people (61.8%) in the corresponding quarter of 2016

The number of employed persons was 384,516 and the employment rate was 55.7% (men 60.8%, women 51.1%), compared to 367.395 (53.9%) in the corresponding quarter of 2016.

The number of unemployed was 42,526 persons and the unemployment rate 10.0% of the workforce (men 9.5%, women 10.5%), compared to 54.402 (12.9%) in the corresponding quarter of 2016.

At the age range 20-64 the employment rate was 71.8%. The percentage for men was 76.9% and for women 67.1%. In the corresponding quarter of 2016, the percentage was 69.2% (men 74.3%, women 64.5%). At the age range 55-64, the employment rate was 57.8% compared to 52.9% in the corresponding quarter of 2016.

According to the division of employment by sector, the largest share of the workforce (80.7%) is employed by Services, followed by Industry and Agriculture with 16.7% and 2.6%, respectively. For the third quarter of 2016 the respective percentages were: Services 79.0%, Industry 17.2% and Agriculture 3.8%.

Part time employment accounted for 12.0% of total employment or 45.983 persons (male 9.4%, women 14.7%). The corresponding figure for the third quarter of 2016 was 13.9% (men 12.4%, women 15.5%).

Of the total number of employed, 87.3% or 335.575 were employees, of whom 16.7% (56.048 persons) had temporary work. In the corresponding quarter of 2016, employees accounted for 86.1% of the total employment and 17.1% of them had temporary jobs.

In young persons aged 15-24, the unemployment rate was 23.9% of the labour force of these ages (men 26.4%, women 22.0%), compared to 30.1% (males 24.7% women 34.8%) in the corresponding quarter of the previous year.

With regard to the duration of unemployment, 41.2% of the total unemployed were looking for work for a period of less than 6 months, 15.5% for a period of 6-11 months, while 43.3% were long-term unemployed. The corresponding rates for the third quarter of 2016 were 40.5%, 14.4% and 45.1% respectively./IBNA

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