Cyprus unemployment hits new record in May - Financial Mirror

Cyprus unemployment hits new record in May

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Unemployment in Cyprus has hit new record high according to figures released Wednesday by the official Statistical Service.

The number of unemployed people reached 36,313 at the end of May, in comparison to 26.050 in May 2011.

In comparison to May 2011, an increase of 8.112 persons or 31,1% was recorded, which was mainly observed in the sectors of construction (an increase of 1.899 unemployed persons), trade (an increase of 1.899), manufacturing (an increase of 1.244), public administration (an increase of 694), accommodation and food service activities (an increase of 625), as well as to newcomers in the labour market where an increase of 411 unemployed persons was recorded.

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for May 2012 increased to 36.313 persons in comparison to 35.402 in the previous month.