In October 2024, Cyprus experienced a 15.7% year-over-year reduction in unemployment, according to the Statistical Service of Cyprus.
As of October’s end, 7,781 individuals were registered as unemployed at District Labour Offices across the country. When viewed through seasonally adjusted data, which highlights unemployment trends, October saw a slight decline in registered unemployed persons, dropping from 10,265 in September to 10,208.
Compared to October 2023, this represents a decrease of 1,451 unemployed individuals, primarily attributed to improvements in sectors such as financial and insurance services, construction, trade, and manufacturing. A drop in newly unemployed individuals entering the labor market also contributed to this positive trend, the Statistical Service noted.
Source: www.stockwatch.com.cy