Reg’d unemployment rises in March (s/a)

Unemployment rose again in March according to seasonally adjusted data, rising by 0.9% over the previous month to reach 26,087.
The absolute number of registered unemployed rose by 16.7% over the year earlier to 28,401, compared with 24,336 in March 2010.
Though high, this was the lowest pace of increase since January 2009.
The increase compared with the year earlier was mainly in the sectors of wholesale and retail trade (an increase of 1,058), accommodation and food service activities (an increase 793), construction (610), manufacturing (391), education (325), transportation and storage (287).
The number of unemployed newcomers to the labour market rose by 1,096.
The biggest age group for unemployment is 30-39, with 6,984 unemployed, while the district with the highest unemployment is Larnaca and Famagusta, with 9,157 unemployed.
Those with secondary school education are among the most numerous unemployed, at 12,461 accounting for 43% of the total.

Fiona Mullen, Sapienta Economics Ltd
www.sapientaeconomics.com