Unemployment rate in Cyprus drops during third quarter of 2010

Unemployment rate in Cyprus reached 5,8% of the labour force (males 5,7% and females 5,9%) for the third quarter of 2010, according to the Republic's Statistical Service.

The unemployment rate amounted to 5,8% of the labour force (males 5,7% and females 5,9%) recording a decrease from the previous quarter, 6,4% (males 6,1% and females 6,7%).

According to the results of the Labour Force Survey, which is carried out in accordance with a European Union Regulation, for the 3rd quarter of 2010, the unemployment rate for young persons aged 15-24 amounted to 13,0% of the labour force of the same age group recording a decrease from the previous quarter, 18,6% and the corresponding quarter of 2009, 15,8%.

The number of employed persons amounted to 386 thousand (males 212,4 thousand and females 173,6 thousand) and the number of unemployed persons to 23,6 thousand (males 12,8 thousand and females 10,8 thousand).

The employment rate for persons aged 20-64 was 75,7% (males 83,1% and females 68,3%) remaining at the same level from the previous quarter and the corresponding quarter of 2009.