Number of registered unemployed persons drops by over 66% in May

The number of unemployed persons, registered at the District Labour Offices registered a steep drop in May declining to 10,586 persons, marking an annual reduction of 66.2%.

According to data published by the Statistical Service of Cyprus (CyStat), in absolute terms, the number of registered jobless declined by 20,701 persons compared with the respective period of last year.

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for May 2022 decreased to 12,530 persons in comparison to 12,653 in the previous month.

According to CyStat, the steep annual drop is attributed mainly to the accommodation and food service sectors (a decrease of 5,091), trade (a decrease of 4,052), construction (a decrease of 1,396), manufacturing (a decrease of 1,268), transportation and storage (a decrease of 993), as well as to the decrease of 1,617 in persons recorded as newcomers to the labor market.