Cyprus unemployment figures stabilise in July 2024
The number of registered unemployed individuals remained stable in July 2024, according to a report released on Monday by the Cyprus Statistical Service (Cystat).
According to the report, which utilised figures from the District Labour Offices, the number of registered unemployed at the end of July 2024 reached 11,877.
Moreover, seasonally adjusted data, which reflects the trend in unemployment, indicates that the number of registered unemployed stood at 11,109 during this time, maintaining a similar level compared to the previous month (11,112).
In addition, the number of unemployed increased for the first time since May 2023 during June of this year.
Compared to July 2023, there was a decrease of 1,310 individuals, a drop of 9.9 per cent.
This reduction is primarily attributed to sectors such as financial and insurance activities, trade, construction, accommodation services, and food services.
Additionally, there was a decline in the number of new entrants to the labour market.
According to the latest Eurostat data, the unemployment rate in June 2024 rose to 4.4 per cent, up from 4.1 per cent recorded in May, but down from the rate of 6.2 per cent recorded in June 2023.