Job vacancy rate up 2.8% in Q1

The job vacancy rate in the first three months to March rose to 2.8% compared to 1.9% in the previous quarter and down from 3.2% in Q1 2022, data released by the Cyprus Statistical Service show.

According to official data, the total number of job vacancies in Q1 2023 reached 12,328, an increase of 4,507 or 57.6%, compared to the previous quarter.

This put the job vacancy rate at 2.8%, up 0.9% from the last quarter of 2022 (October-December).

Compared to Q1 2022, annual job vacancies in Q1 2023 fell by 4.2% or 546 positions, when the job vacancy rate was 3.2%.

There were 7,821 job vacancies in Q4 2022 and 12,874 in Q1 2022.

The largest job vacancy rates in Q1 2023 were observed in the sectors of Accommodation and Food Service Activities (7.1%), Other Service Activities (4.4%) and Transportation and Storage (3.8%).