The number of registered unemployed individuals in Cyprus saw a 15.7 per cent decrease in October 2024 compared to the same month last year, according to a report from the Cyprus Statistical Service.
At the end of October, the total number of registered unemployed individuals was recorded at 7,781, based on figures held by the district labour offices.
Moreover, seasonally adjusted figures, which are used to indicate unemployment trends, show a reduction to 10,208 registered unemployed for October 2024, down from 10,265 in September.
Compared to October 2023, the year-on-year decline represents a reduction of 1,451 individuals. This corresponds to an annual drop of 15.7 per cent.
According to the statistical service, this decrease is largely attributed to improvements in sectors such as finance and insurance, construction, retail, and manufacturing.
Additionally, a drop in the number of new job market entrants contributed to the overall reduction in unemployment.
