Unemployment drops 10,8% in September 2015

Unemployment drops 10,8% in September 2015

Unemployment recorded a decrease of 4.652 persons or 10.8% in September 2015 compared to the same month of 2014, according to data released Tuesday by the Statistical Service of Cyprus.

The reduction was mainly observed in the sectors of construction (a decrease of 1.222 unemployed persons), trade (a decrease of 818), manufacturing (a decrease of 734), financial and insurance activities (a decrease of 712), education (a decrease of 405) and to newcomers in the labour market (a decrease of 617).

The unemployed persons, registered at the District Labour Offices on the last day of September 2015, reached 38.365 persons. Based on the seasonally adjusted data that shows the trend of unemployment, the number of registered unemployed for September 2015 decreased to 41.917 persons in comparison to 42.561 in the previous month.

This is the lowest number of unemployed recorded since the start of the financial crisis in March 2013, when the number of unemployed stood at 41.065, while in April 2013 the unemployed persons had risen to 46.420