The number of those who are unemployed have reduced by a major number.
According to the Office of Statistics, as of October 2023, the island nation has seen an unemployment rate lowered by 17.4% – which equals over 1,951 people. This has made the total number of those who have been registered as unemployed stand at 9,232 – a far cry from 2022’s 11,183 individuals.
Speaking specifically with season-wise fluctuations in view, October this year recorded 11,747 individuals who were officially unemployed – which again is less than 11,897 in September of the same year and 13,695 from 2022 October.
Several factors are being considered among the reasons for the rather sharp decline – this includes lower people entering the workforce and a hiring boom in sectors like construction, administration, food, accommodation and trade.
All of these factors indicate that the employment scene in Cyprus is set to undergo a positive transformation.
