In April, unemployment decreased in Cyprus

The Statistical Service of Cyprus (Cystat) reported a significant reduction in the number of registered unemployed individuals in April 2024.

According to the report, by the end of April, the total number of registered unemployed decreased to 9,343 people. This reduction not only exceeds the indicators of previous months but also signifies a significant improvement compared to the previous year.

Taking into account seasonal fluctuations, unemployment rates decreased even further - from 11,182 people in March to 10,880 people in April.

Compared to the same period last year, the unemployment rate decreased by 17.2 percent (1,941 people).

Unemployment in the tourism and hospitality sector nearly halved: from 3,482 people in March to just 1,496 people in April.

Similarly, the construction sector showed active reduction in unemployment, from 663 people in March to 592 people in April. It is noted that the recovery of this sector is crucial and often serves as an indicator of broader economic recovery due to infrastructure development and housing projects.

Positive shifts are also observed in other sectors of the economy.