Cyprus unemployment growth accelerates in July

Growth of registered unemployment accelerated again in July, after a slowdown in June, according to the latest figures from the Statistical Service.
The number of registered unemployed reached 36,452 in July, marking an increase of 33.5% compared with the year earlier in July, after an increase of 26.2% in June and 31.1% in May.
The main increase was in construction (1,964), wholesale and retail trade (1,907), manufacturing (1,259) and public administration (902), where people are reportedly retiring early from the public sector to avoid expected cuts in pension entitlements.
There was also an increase of 680 in accommodation and food service activities and 544 in unemployed newcomers to labour market.
Unemployment also rose on a seasonally adjusted basis, rising to 37,253 from 35,780 in June.
According to Eurostat, which estimates the unemployment rate on the basis of both registered unemployment and the quarterly labour force survey, the unemployment rate reached 10.5% in June, higher than the EU27 average of 10.4%.
The eurozone average in the same month was 11.2%.