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» Unemployment in Cyprus

09/01/2009

While the economic crisis affecting the most developed countries in the world, now is outside our door, threatening with negative implications the Cyprus economy, which does not seem to remain unaffected. According to yesterday publication of the Statistical Office, the unemployment rate over the last three months of 2008 recording a disturbing upward trend. In particular the numbers of unemployed in the last three months of the year are as follows: in October 9983, 12073 in November and December 14169. If the growth of the economy moved around 2%, then perhaps confirmed the predictions of the Human Resource Development Authority (HRDA), and the unemployment rate in 2009 will be around 6%.

The biggest problem of unemployment appears to have the construction and hotel industry. According to the Statistical Office, the unemployed in construction in October 2008 was 878, in November 1070 and December 1272. Also, the hotel industry seems to be also a major problem with the unemployed in October to be 1061, 2,454 in November and December 3109.
 

  

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