Tuesday, February 12, 2008

Cyprus unemployment falls sharply y/y in January

The number of registered unemployed fell by more than 1,000 in January 2008 compared with January 2007 thanks to a decrease across several key sectors. 

 

The number of unemployed registered at the District Labour Offices on the last day of January 2008, reached 13,571 compared with 15,041 in January 2007.

 

Falls of around 200 to 300 or more were recorded in the sectors of manufacturing, retail and wholesale trade, transport, restaurants and hotels, and construction.

 

For seasonal reasons the number of unemployed was 783 higher than in December 2007. A registered unemployment is not published but according to the most recent Labour Force Survey the unemployment rate was 4% in the third quarter of 2007.

 

Source: Financial Mirror