Cyprus unemployment hits new record in August

Unemployment in Cyprus has hit new record high according to figures released Wednesday by the official Statistical Service.

According to the Statistical Service of the Republic of Cyprus, the unemployed persons, registered at the District Labour Offices on the last day of August 2013, reached 48.451 persons compared to 48,001 persons in the previous month and 33,934 in August 2012.
Based on the seasonally adjusted data that shows the trend of unemployment, the number of registered unemployed for August 2013 increased to 51.291 persons in comparison to 48.545 in the previous month.

In comparison with August 2012, an increase of 14.517 persons or 42,8% was recorded, which was mainly observed in the sectors of trade (an increase of 2.882 unemployed persons), education (an increase of 1.935), financial and insurance activities (an increase of 1.701), construction (an increase of 1.672), manufacturing (an increase of 1.340), accommodation and food service activities (an increase of 793), as well as to newcomers in the labour market where an increase of 1.856 unemployed persons was recorded.