Employers fear deepening labour shortage

Employers fear President Nikos Christodoulides’ decision not to renew a decree that allowed them easier and faster access to asylum seekers will deepen a labour shortage already hurting hospitality. Earlier this week,


CoLA to cost €1.2 bln over three years

The deal between social partners to renew the Cost-of-Living Allowance agreement to cover 66.7% of inflation, up from 50%, means the state will pay an additional €1 bln in salaries over three

Labour, energy costs stifling businesses

High labour costs, plus access to energy and raw materials, are the main challenges expected to be faced by Cypriot businesses in 2023, based on the Eurochambres Εconomic Survey. The Cyprus Chamber

Preparing future tech professionals

A high-tech multinational firm is doing its bit to address the talent gap in Cyprus’ blooming IT ecosystem, as the number of technology companies increases on a geometrical scale. Kyndryl, a US

Hourly labour cost rises over 5%

The hourly labour costs (total cost) rose by an annual 5.2% in the second quarter of 2022, according to provisional data by the Statistical Service of Cyprus. The two main components of


National minimum wage set at €940

The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move”

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