Cyprus unemployment reaches new record high in January

According to the Statistical Service of the Republic of Cyprus, unemployed persons, registered at the District Labour Offices in January 2013 stood at 45,933.
Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for January 2014 decreased to 48,939 persons in comparison to 49,643 in the previous month and is up from 41,883 persons in January 2013.

Moreover, in comparison with January 2013, an increase of 6,850 unemployed persons or 14.9% was recorded which was mainly observed in the sectors of financial and insurance activities (an increase of 1,555 unemployed persons), accommodation and food service activities (an increase of 1,193), trade (an increase of 676), manufacturing (an increase of 662), public administration (an increase of 554), construction (an increase of 323), as well as to newcomers in the labour market where an increase of 535 unemployed persons was recorded.
The biggest number of unemployed was recorded in the “Accommodation and Food Service Activities” sector with 9,356 people, followed by the “Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles” sector with 9,190. “Construction” comes next with 7,162, and “Public Administration and Defence; Compulsory Social Security” with 5,167.

“Elementary occupations” top the registered unemployment by occupational category with 11,205 people, followed by 10,323 “Service and sale workers” and 9,166 “Clerks”.
Most unemployed persons are between 50 and 59 years old, with 12,282 persons belonging in this age group, and are followed by the 12,053 unemployed in the 30-39 group and 10,404 in the 40-49 group.