Unemployment rises in Cyprus in 2010

Unemployment in Cyprus reached 6.2% in 2010, compared to 5.3% in 2009, according to data released by the Statistical Service.

According to the results of the Labour Force Survey, which is carried out in accordance with a European Union Regulation, for the 4th quarter of 2010 the number of employed persons amounted to 386.6 thousand, of which males were 212.3 thousand and females 174.3 thousand, and the number of unemployed persons to 21.9 thousand, of which males were 11.4 thousand and females 10.5 thousand.

The employment rate for persons aged 20 to 64 was 75.8%, with males standing at 82.9% and females at 68.9%, remaining at the same level from the previous quarter and the corresponding quarter of 2009.

The unemployment rate amounted to 5.4% of the labour force, with males at 5.1% and females at 5.7%, recording a decrease from the previous quarter, which was 5.8%, with males at 5.7% and females at 5.9%, and the corresponding quarter of 2009, which was 6.0%, with males at 6.1% and females at 5.7%.

Also, the unemployment rate for young persons aged 15 to 24 amounted to 14.5% of the labour force of the same age group recording a decrease from the corresponding quarter of 2009, which was 16.5%.