Cyprus unemployment trends upwards again in January

Registered unemployment accelerated in January, rising by 22.3% compared with January 2010 to 28,914.
The pace of increase was faster than in the previous four months, when an average increase of 19.3% had been recorded.
Moreover, unemployment also climbed on a seasonally adjusted basis, rising by 2.9% over the previous month.
The main increase compared with the year earlier was in wholesale and retail trade (an increase of 1,034); accommodation and food service activities (980); construction (672); manufacturing (479); education (432); and transportation and storage (335).
There was also an increase of 1,234 in the number of new registrants.
At the end of 2010 registered unemployment was 19.3% higher than the year earlier.
The registered unemployment rate is not reported but the quarterly labour force survey reported an unemployment rate in the third quarter of 5.8%.