Cyprus LFS unemployment climbs to 7.2% in Q2

The unemployment rate rose to 7.1% (29,189) in the second quarter of 2011 from 6.4% (26,379) in the same quarter of 2010, according to the latest quarterly Labour Force Survey.
However, unemployment was lower than the peak of 7.4% (30,180) recorded in the first quarter.
The unemployment rate in the second quarter was 7.2% for males (16,226) and 7.0% for females (12,962).
The unemployment rate for young persons aged 15-24 amounted to 20.6% of the labour force of the same age group. This was the same level as the previous quarter of 2011 but higher than the 18.6% recorded in the same quarter of 2011.
The Labour Force Survey is carried out in accordance with EU regulations.
Total employment fell to 380,485, compared with 387,909 in the second quarter of 2010.
The number of male employed was 207,912 and the number of female employed was 172,573.
The employment rate for persons aged 20-64 was 74.9% (males 81.6% and females 68.3%) recording a small increase from the previous quarter of 2011 but a drop from the 75.7% recorded in the same quarter of 2010.