Cyprus unemployment rises for fifth month

Registered unemployment in Cyprus rose over the same period of the previous year for the fifth straight month in January, reaching 15,786 persons.
This market a rise of 16.3% compared with January 2008, or 2,215 persons.
The Statistical Service said that the increase was mainly in the sectors of construction (an increase of 805 unemployed persons), wholesale and retail trade (418), real estate and business activities (374) as well as newcomers to the labour market (461).
Compared with December, there was a rise of 1,617 persons. Here, too, the increase was mainly recorded in the sectors of construction, trade, hotels and restaurants as newcomers.
The registered unemployment rate is no longer published. According to the Labour Force Survey, the unemployment rate in the third quarter of 2008 was 3.6%. F.M.