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ECONOMY

Statistical Data Reaffirm the Path which Gradually Leads to Full Employment

Statistical Data Reaffirm the Path which Gradually Leads to Full Employment

The Cyprus economy, continuing its growth path, leads to a continuous improvement in the employment sector, resulting in a decrease in unemployment, Government Spokesman Prodromos Prodromos said on Tuesday in a written statement.

He noted that the latest figures published by the Statistical Service show that this year the number of registered unemployed was 14% lower compared to the same month a year ago based on seasonally adjusted data.

This, he said, reaffirms the path which gradually leads to conditions of full employment.

Prodromou notes the importance of maintaining a balanced economic policy.

A policy, he continued, which combines prudent financial management with the encouragement of investment activity, as well as the promotion of new activities related to technology, research and innovation.

According to the Statistical Service of Cyprus, based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for January 2019 decreased to 24.091 persons in comparison to 24.333 in the previous month.

In comparison with January 2018, a decrease of 5.038 persons or 14,0% was recorded which was mainly observed in the sectors of trade (a decrease of 1.158 unemployed persons), public administration (a decrease of 583), accommodation and food service activities (a decrease of 578),manufacturing (a decrease of 537), construction (a decrease of 526), education (a decrease of 173) and to newcomers in the labour market (a decrease of 1.538).

The number of unemployed registered at the District Labour Offices on the last day of January 2019, reached 30.951 persons.

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