Cyprus

CYPRUS: Unemployment benefit payments drop in first eight months

by fm

14th October 2014

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1 min read

Cyprus saw in August the second largest decrease in the payments of unemployment benefits, according to figures released by the Social Security Services.

Around €4,7 mn were paid in unemployment benefits in the eighth month of the year, recoding a decrease of 47.3%, from €9,0 in the same month of 2013.

Based on available data, the largest annual decline in unemployment benefit payments was 68.3% and was recorded in April.

For the first eight months of the year, unemployment benefit payments decreased by 11.3%, compared to the same period last year, according to the data.

The total amount paid from January to August was €92,3 mn, from €104,1 mn in the corresponding period of 2013.

According to the latest figures of the EU`s statistical service Eurostat, unemployment in Cyprus fell to 15.4% in August or 67,000 people, compared with 72,000 or 16.6% in August 2013 and 15.7% in July.