Unemployment drops in August 2023

The number of registered unemployed persons decreased in August 2023, both on an annual and monthly basis, according to data released on Tuesday by the Statistical Service of Cyprus.

Based on seasonally adjusted data, which reflect the unemployment trend, a decrease of 1,705 persons or 11.4% was recorded compared to August 2022. This reduction can be primarily attributed to the sectors of trade, accommodation and food services, administrative and support service activities, and construction, as well as a decrease in newcomers to the labor market.

In August 2023, the number of registered unemployed persons decreased by 1.23% to 12,881 people compared to 13,042 the previous month, based on seasonally adjusted figures.

According to data maintained by the District Labor Offices, the number of registered unemployed persons at the end of August 2023 reached 13,256.