In February, unemployment decreased in Cyprus

According to a report published by the Statistical Service of Cyprus (Cystat), Cyprus saw a reduction in the number of registered unemployed by 13.8 percent in February 2024 compared to the corresponding month in 2023.

The report notes that compared to February 2023, the number of unemployed in the country decreased by 2,293 people, from 14,304 to 11,687.

Furthermore, data on unemployment trends, taking into account seasonal fluctuations, indicate that the month before, the country had registered 11,823 unemployed.

The decrease occurred mainly due to sectors such as financial and insurance activities, trade, construction, accommodation, as well as food and beverage services. Additionally, the decrease was also due to newcomers in the domestic labor market.

The continuation of the trend towards reduction, observed throughout the past year, once again highlights the improvement of labor market conditions.