Cyprus unemployment rise tops 6,200

The number of registered unemployed in Cyprus continued to climb in June, reaching 1,674. This was number was 6,231 or 59.3% higher than in June 2008.
Unemployment began to rise rapidly in late 2008. In November, the number of unemployed was only 182 higher than in the previous year. In December, this shot up to 1,381 and has continued to rise ever since.
The only bright spot is that rate of increase of unemployment was slower in June than the 63.8% recorded in May.
The main rise in unemployment compared with the previous year has been in construction, where the number of registered unemployed in June was 1,806 higher than in June 2008.
However, other sectors have also been hit hard.
Wholesale and retail trade was 1,119 higher June; real estate and business activities was 709 higher; hotels and restaurants 603; and manufacturing 576.
There were also 585 more new registrants in June 2009 than in June 2008.
Based on the seasonally adjusted data the Statistical Service reported that the number of registered unemployed reached 17,903 persons in June, a rise of 264 over the previous month.