Cyprus unemployment jumps again in August

The number of registered unemployed recorded another sharp increase in August, rising by 6,987 over August 2008 to 17,788 people.
This was 64.7% higher than in August 2008, and marks the highest year-on-year increase so far this year.
The biggest increase in terms of numbers was in the construction sector, where unemployment rose by 1,764 people to 2,546.
Unemployment among public administration and services was close behind with an increase of 1,202 people compared with August 2008.
This could be as a result of temporary contracts coming to an end, as there has been no obvious lay-off of permanent employees in the public sector.
Unemployment in the wholesale and retail trade sector rose by 1,154 people to 3,094.
The Statistical Service does not publish a registered unemployment rate but according to EU definitions, the seasonally adjusted unemployment rate in Cyprus was 5.5% in July, compared with an EU average of 9.0%.