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Cyprus' registered unemployment down 21.2% in May, reaching historic lows

08:03 - 06 June 2024

Economy Reporter

The downward trend in Cyprus' register unemployment persisted in May 2024 reaching historically low levels.

According to data released by CySTAT. the number of unemployed persons at the end of May 2024 according to recent data released by the District Labour Offices declined by 2,198 persons or 21.2% compared to May 2023.

This decline is primarily attributed to sectors such as financial and insurance activities, trade, construction, accommodation and food service activities. Additionally, the decrease in newcomers entering the labour market contributed to this positive trend.

The number of unemployed persons in Cyprus stood at 8,159 at the close of May 2024. Seasonally adjusted data revealed a decrease to 10,437 individuals compared to 10,701 in the previous month.

(Source: CNA)

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