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Job vacancies spiked an annual 54% in Q4 2023

Job vacancies in Cyprus spiked by 54% year on year in the fourth quarter of 2023, reaching 12,038 according to Cystat.

Compared with the third quarter of 2023, the number of job vacancies declined by 1.9% or by 236 jobs.

The job vacancy rate (a percentage of the total number of occupied posts and job vacancies) in the fourth quarter of 2023 stood at 2.8%, from 2.9% the previous quarter of the same year and 1.9% in the fourth quarter of 2022.

The largest job vacancy rates in Q4 of 2023 were registered in the Sectors of Administrative and Support Service Activities with 5.2%, Other Service Activities with 3.9% and Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles with 3.5%.

According to Cystat, in absolute terms, the sector of Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles recorded the highest job vacancies with 2,659, up by an annual 129.6%, followed by Accommodation and Food Service Activities with 1,469 up by 3.8% year on year and Professional, Scientific and Technical Activities with 1,122 vacancies up by 52,4% year on year.

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