Un­em­ploy­ment ben­e­fit pay drops 66% in Novem­ber

Financial Mirror (Cyprus) - - FRONT PAGE -

Un­em­ploy­ment ben­e­fit pay­ments recorded the sec­ond high­est an­nual drop in the last three years, down by 66.4% in Novem­ber, com­pared to the same month in 2013.

Ac­cord­ing to So­cial In­sur­ance Depart­ment data, EUR 4.8 mln were paid from the un­em­ploy­ment ben­e­fit fund in Novem­ber when the na­tional job­less level had dipped to just be­low 17%, com­pared to EUR 14.3 mln a year ear­lier.

The big­gest an­nual de­crease un­em­ploy­ment benefits was in dropped 68.1% year-on-year.

Dur­ing the Jan­uary to Novem­ber 2014 pe­riod, pay­ments of un­em­ploy­ment ben­e­fit de­creased by 21.1% to EUR 111.5 mln from 141.4 mln in the cor­re­spond­ing pe­riod of 2013, the year when a EUR 10 bln bailout plan was agreed with Cyprus’s in­ter­na­tional lenders (EU, ECB, IMF).

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.