Newsroom / CNA
The number of unemployed persons registered at the District Labour Offices in Cyprus fell to 11,877 at the end of July 2024, marking a 9.9% decrease compared to the same period last year, according to data released by the Statistical Service on Monday.
The reduction of 1,310 unemployed individuals from July 2023 is primarily attributed to declines in several key sectors: financial and insurance activities, trade, construction, accommodation and food service activities, and a decrease in newcomers entering the labor market.
Seasonally adjusted data, which reflect unemployment trends, indicate that the number of registered unemployed persons for July 2024 remained steady at 11,109, showing no change from the previous month.
Meanwhile, spending on social benefits increased by 80 million euros by the end of May 2024, compared to the same period last year, Government Spokesman Konstantinos Letibiotis said Monday after a Cabinet meeting at the Presidential Palace.
Letibiotis reported that social benefits spending reached 760 million euros by the end of May, up from 680 million euros during the same period in 2023.
The 12% increase, or 80 million euros, was attributed to a 50 million euro rise in social welfare benefits and a 30 million euro rise in health benefits, Letibiotis said.
