Unemployment hits lowest level in 17 months in June 2023

08:30 - 06 July 2023

Economy Reporter

According to seasonally adjusted data, the number of registered unemployed individuals in June 2023 reached its lowest level in the past 17 months.

According to CySTAT, based on the data maintained by the District Labour Offices, the number of registered unemployed individuals at the end of June 2023 reached 11,747, which is the highest number since April 2022.

However, according to data adjusted for seasonal fluctuations, which indicate the trend of unemployment, the number of registered unemployed individuals in June 2023 decreased to 13,177, compared to 13,241 the previous month, representing the lowest number of unemployed individuals since January 2022.

Compared to June 2022, there was a decrease of 585 individuals or 4.7% based on the data maintained by the District Labour Offices, primarily attributed to the sectors of trade, accommodation and food services, construction, public administration, as well as a decrease in new entrants to the labour market.

(Source: CNA)

Unemployment hits lowest level in 17 months in June 2023

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