Unemployment drops

Cyprus registered unemployed dropped by an annual 58% in March, driven mainly by recruitment in the tourism and retail sector, the statistical service (Cystat) said.

In March, tourism, retail and wholesale trade and constructions showed the highest number of unemployed with 3,481, 2,270 and 1,035 respectively.

Cystat attributed the decrease in unemployment to the partial restart of the hospitality industry following the lifting of COVID-19 restrictions.

The number of people active in the industry without work was 4,012 less than in March last year. Other sectors, such as trade, construction and manufacturing, also recorded a considerable decrease in unemployment.

Despite the decrease, the hospitality industry still counts the highest number of unemployed people, with some 3,481 out of work. The retail trade sector followed with 2,270 and construction with 1,035 unemployed.

Those registered at the District Labour Offices in March reached 13,818, while based on the seasonally adjusted data that show the trend of unemployment, it decreased to 13,555 from 13,664 in February 2022.

Compared with March 2021, the number of registered

unemployed declined by 19,115 or 58%.

The reduction is attributed mainly to the sectors of accommodation and food service activities (-4,012), trade (3,889), construction (-1,346), manufacturing (-1,252), transportation and storage (-910), and a decrease of 1,582 recorded among newcomers to the labour market.