Cyprus: Statistical Authority announces big leap in unemployment rate

Cyprus: Statistical Authority announces big leap in unemployment rate

Based on the data kept at the District Labor Offices, the number of registered unemployed at the end of August 2020 reached 33,649 persons. Based on seasonally adjusted data measuring the unemployment rate, the number of registered unemployed in August 2020 increased to 34,996 persons compared to 33,815 in the previous month.

Compared to August 2019, there was an increase of 13,766 persons or 69.2%, which is mainly attributed to the sectors of accommodation and catering services (increase by 6,022 persons), trade (increase by 2,117 persons), transport and storage (increase by 889 persons), administrative and support activities (increase by 659 persons), professional, scientific and technical activities (increase by 623 persons) and manufacturing (increase by 483 persons).

It is pointed out that, according to the information of the Department of Labor, the comparison of the data from March 2020 onwards with data from previous months is not considered objective. This is due to the implementation by the Public Employment Service of the emergency measures announced by the Ministry of Labor, Welfare and Social Insurance for automatic renewals of the registered unemployed and new registrations of unemployed without physical presence in order to avoid the spread of coronavirus. /ibna