The employment situation in Cyprus is improving.

The employment situation in Cyprus is improving.

According to the press release of the Statistical Service of the Ministry of Finance of Cyprus (CYSTAT), which was published on January 07, 2020 unemployment data in Cyprus has a steady downward trend. 

The unemployed persons, registered at the District Labour Offices on the last day of December 2019, reached 25.285 persons. Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for December 2019 decreased to 20.140 persons in comparison to 20.631 in the previous month. 

In comparison with December 2018, a decrease of 4.515 persons or 15,2% was recorded, attributed mainly to the sectors of public administration (a decrease of 1.026), trade (a decrease of 646), construction (a decrease of 611), accommodation and food service activities (a decrease of 288), transportation and storage (a decrease of 258), manufacturing (a decrease of 254) and to newcomers in the labour market (a decrease of 875).

A steady long-term decline in unemployment in almost all significant sectors of the economy is the best evidence of its recovery and the effectiveness of measures taken to stimulate business and investment activity in the country. One of these significant measures is the introduction of the Cyprus Investment Program, according to which foreign investors in the country's economy who meet the established criteria have the opportunity to obtain Cyprus citizenship for themselves and their family members.

More information about the Cyprus Investment Program can be found here

You can also contact us for the additional information by phone:
+ 357 22 46 55 00 (Greek, Russian, English).

 

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Tags economy unemployment Statistical Service CYCTAT recovery Cyprus Investment Program Cyprus citizenship labour
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