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ECONOMY

Registered unemployed in Cyprus Spike By An Annual 34% In November

Registered unemployed in Cyprus Spike By An Annual 34% In November

The number of registered unemployed persons in November spiked by over 34% year on year in November reaching 32,968 persons with seasonally adjusted data showing a downward trend compared with October 2020.

 

According to data published by the Statistical Service of Cyprus (Cystat) amid the coronavirus pandemic registered unemployed persons in November rose by 8,473 persons or by 34.6% compared to November 2019.

 

The rise is mainly associated with the sector of trade, where unemployed persons rose by 2,142, professional, scientific and technical activities (an increase of 747), construction (an increase of 690), manufacturing (an increase of 629), education (an increase of 611) and to newcomers in the labour market (an increase of 866).

 

Compared with the previous month of 2020, the number of unemployed persons marked an increase of 1,481 persons corresponding to an annual increase of 4.7%.

 

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for November 2020 decreased to 31,285 persons in comparison to 34,997 in the previous month, Cystat added.

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