Cyprus unemployment rises for third straight month

Registered unemployment rose for the third consecutive month in November, hitting construction and real estate the most.
According to the Statistical Service, the number of unemployed registered at the District Labour Offices on the last day of November 2008 reached 12,073, which was 187 or 1.5% higher than in November 2007.
The increase was concentrated in new registrants, up by 222 compared with November 2007, real estate, rental and business activities, up by 201, and construction, up by 178.
Compared with October, unemployment rose by 2,090. However, much of this was seasonal, as activity in the tourism sector drops off towards the end of the year.
On a monthly basis the increase was mainly recorded in the sectors of hotels and restaurants, real estate and business activities and construction.