/

Job vacancy rate drops to 2.2%

2150 views
1 min read

The job vacancy rate in the third quarter was 2.2%, down from the previous quarter (2.7%) and Q3 2021 (2.4%), according to the Cyprus Statistical Service.

The number of job vacancies in Q3 2022 reached 9,174.

Job vacancies increased by 44.3%, or 2,816, compared to the same quarter of the previous year when the number was 6,358.

Compared to the previous, the number of job vacancies decreased by 1,939, or by 17.4%.

The largest job vacancy rates from July to September were observed in the Sectors of Accommodation and Food Service Activities (4.6%), Transportation and Storage (4.5%), Water Supply, Sewerage, Waste Management and Remediation Activities (3.5%) and Information and Communication (2.7%).

A job vacancy is a paid post that is newly created, unoccupied, or about to become vacant and for which the employer is taking active steps to find a suitable candidate from outside the enterprise concerned.

Nace   Rev.2 Economic Activity Job Vacancy Rate

(%)

Q3 2021 Q2 2022 Q3 2022
B Mining and Quarrying 0,0 0,2 0,6
C Manufacturing 2,5 2,5 1,6
D Electricity, Gas, Steam and Air Conditioning Supply 2,9 0,0 0,3
E Water Supply, Sewerage, Waste Management and Remediation Activities 2,2 3,2 3,5
F Construction 1,0 1,1 0,9
G Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles 2,8 2,3 1,9
H Transportation and Storage 1,7 4,0 4,5
I Accommodation and Food Service Activities 5,8 7,2 4,6
J Information and Communication 1,5 2,5 2,7
K Financial and Insurance Activities 1,2 2,2 2,0
L Real Estate Activities 0,5 2,4 1,4
M Professional, Scientific and Technical Activities 2,3 1,9 2,3
N Administrative and Support Service Activities 3,8 3,8 1,9
O Public Administration and Defense, Compulsory Social Security 3,1 0,5 1,5
P Education 1,7 1,6 1,5
Q Human Health and Social Work Activities 2,2 2,5 1,5
R Arts, Entertainment and Recreation 0,1 1,8 0,9
S Other Service Activities 1,6 1,8 1,6
  Total 2,4 2,7 2,2

Public sector

Total employment in the wider public sector in Q3 reached 70,429.

The employment in General Government was 64,726, and in Publicly Owned Enterprises and Companies, 5,703.

In General Government, which consists of the government, non-profit organisations and local authorities, total employment reached 52,730, 7,626 and 4,370, respectively.

The Broad Public Sector increased by 672 persons (1%) compared to the same quarter of 2021.

Employment in Central Government increased by 496 (0,8%), Local Authorities by 89 persons (2.1%) and in Publicly Owned Enterprises and Companies by 87 (1.5%).

Compared to Q2 2022, employment in the wider public sector decreased by 2,003 (-2,8%).

Employment decreased in Central Government by 2,013 (-3,2%) and in Local Authorities by 48 persons (-1.1%), whereas it increased in Publicly Owned Enterprises and Companies by 58 (1%).

 Table
  Number of Persons % Change
Q3 2021 Q2 2022 Q3 2022 Q3 2022/Q2 2022 Q3 2022/2021
General Government 64.141 66.787 64.726 -3,1 0,9
Central Government 59.860 62.369 60.356 -3,2 0,8
Government 52.562 53.691 52.730 -1,8 0,3
Non-profit Organizations 7.298 8.678 7.626 -12,1 4,5
Local Authorities 4.281 4.418 4.370 -1,1 2,1
Municipalities 3.161 3.298 3.250 -1,5 2,8
Other Local Authorities 1.120 1.120 1.120 0,0 0,0
Publicly Owned Enterprises and Companies 5.616 5.645 5.703 1,0 1,5
Broad Public Sector 69.757 72.432 70.429 -2,8 1,0