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Based on the data kept at the Provincial Labour Offices, the number of registered unemployed at the end of February 2024 reached 14,304 persons. Based on data corrected for seasonal variations, which show the trend of unemployment, the number of registered unemployed in February 2024 decreased to 11,687 persons compared to 11,823 in the previous month. (Table 1)
Compared to February 2023, there was a decrease of 2,293 persons or 13.8% attributable mainly to the financial and insurance activities, trade, construction, accommodation and food services sectors, as well as a decrease in new entrants to the labour market. (Table 2)
| Table 1 |
[/TD]
[TR] [TD]
Month and Year
[/TD] [TD]Registered Unemployed - Actual Data
[/TD] [/TD] [TD]
Registered Unemployed - Seasonally Adjusted Figures
[/TD] [/TD] [/TR] [TR] [TD]
2024
[/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]February
[/TD] [TD]14.304
[/TD] [TD]11.687
[/TD] [/TD] [/TR] [TR] [TD]January
[/TD] [TD]14.699
[/TD] [TD]11.823
[/TD] [/TR] [TR] [TD]
2023
[/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]December
[/TD] [TD]13.670
[/TD] [TD]11.866
[/TD] [/TR] [TR] [TD]November
[/TD] [TD]12.662
[/TD] [TD]11.952
[/TD] [/TR] [TR] [TD]October
[/TD] [TD]9.232
[/TD] [TD]12.035
[/TD] [/TR] [TR] [TD]September
[/TD] [TD]9.693
[/TD] [TD]12.142
[/TD] [/TR] [TR] [TD]August
[/TD] [TD]13.256
[/TD] [TD]12.510
[/TD] [/TR] [TR] [TD]July
[/TD] [TD]13.187
[/TD] [TD]12.644
[/TD] [/TR] [TR] [TD]June
[/TD] [TD]11.747
[/TD] [TD]12.786
[/TD] [/TR] [TR] [TD]May
[/TD] [TD]10.357
[/TD] [TD]12.957
[/TD] [/TR] [TR] [TD]April
[/TD] [TD]11.284
[/TD] [TD]13.048
[/TD] [/TR] [TR] [TD]March
[/TD] [TD]14.197
[/TD] [TD]13.313
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]16,597
[/TD] [TD]13,538
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]16,758
[/TD] [TD]13.578
[/TD] [/TR] [TR] [TD]2022
[/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]December
[/TD] [TD]16.132
[/TD] [TD]13.723
[/TD] [/TR] [TR] [TD]November
[/TD] [TD]15.309
[/TD] [TD]13.840
[/TD] [/TR] [TR] [TD]October
[/TD] [TD]11.183
[/TD] [TD]13.732
[/TD] [/TR] [TR] [TD]September
[/TD] [TD]11.610
[/TD] [TD]13.737
[/TD] [/TR] [TR] [TD]August
[/TD] [TD]14.961
[/TD] [TD]13.834
[/TD] [/TR] [TR] [TD]July
[/TD] [TD]14.145
[/TD] [TD]13,660
[/TD] [/TR] [TR] [TD]June
[/TD] [TD]12,332
[/TD] [TD]13,566
[/TD] [/TR] [TR] [TD]May
[/TD] [TD]10,586
[/TD] [TD]13.342
[/TD] [/TR] [TR] [TD]April
[/TD] [TD]11.664
[/TD] [TD]13.427
[/TD] [/TR] [TR] [TD]March
[/TD] [TD]13.818
[/TD] [TD]13.419
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]15.364
[/TD] [TD]13.401
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]15.430
[/TD] [TD]13.325
[/TD] [/TR]
|
Table 2 |
[/TR] [TR] [TD]
Nace Rev. 2
[/TD] [TD]
Economic Activity
[/TD] [TD]
Registered Unemployed
(actual data)
[/TD] [/TR] [TR] [TR] [TD]February 2023
[/TD] [TD]January 2024
[/TD] [TD]February 2024
[/TD] [/TR] [TR] [TD]A
[/TD] [TD]Agriculture, Forestry and Fisheries
[/TD] [/TD] [TD]85
[/TD] [TD]74
[/TD] [TD]72
[/TD] [/TR] [/TD] [/TR] [TR] [TD]B
[/TD] [TD]Mining and quarrying
[/TD] [TD]14
[/TD] [TD]10
[/TD] [TD]10[/TD] [/TD] [TD]
9
[/TD] [/TD] [/TR] [TR] [TD]C
[/TD] [TD]Manufacturing
[/TD] [TD]833
[/TD] [TD]642
[/TD] [TD]642
[/TD] [TD]636
[/TD] [/TD] [/TR] [TR] [TD]D
[/TD] [TD]Electricity Supply, Natural Gas, Steam and Air Conditioning
[/TD] [/TD] [TD]13
[/TD] [TD]3
[/TD] [TD]4
[/TD] [/TR] [TR] [TD]E
[/TD] [TD]Water Supply, Waste Water Treatment, Waste Management and Remediation Activities
[/TD] [/TD] [TD]38
[/TD] [TD]36
[/TD] [TD]30
[/TD] [/TR] [TR] [TD]F
[/TD] [TD]Construction
[/TD] [TD]1.044
[/TD] [TD]723
[/TD] [TD]697
[/TD] [/TR] [TR] [TD]G
[/TD] [TD]Wholesale and retail trade, repair of motor vehicles and motorcycles
[/TD] [TD]2.360
[/TD] [TD]2.024
[/TD] [TD]2.003
[/TD] [/TR] [TR] [TD]H
[/TD] [TD]Transport and Storage
[/TD] [TD]728
[/TD] [TD]774
[/TD] [TD]747
[/TD] [/TR] [/TD] [TD]747
[/TD] [/TR] [TR] [TD]I
[/TD] [TD]Accommodation and food service activities
[/TD] [/TD] [TD]4.963
[/TD] [TD]4.965
[/TD] [TD]4.754
[/TD] [/TR] [TR] [TD]J
[/TD] [TD]Update and Contact
[/TD] [TD]401
[/TD] [TD]407
[/TD] [TD]407
[/TD] [TD]424
[/TD] [/TD] [/TR] [TR] [TD]K
[/TD] [TD]Financial and Insurance Activities
[/TD] [TD]1.368
[/TD] [TD]793
[/TD] [TD]717
[/TD] [/TD] [/TR] [TR] [TD]L
[/TD] [TD]Real Estate Management
[/TD] [TD]143
[/TD] [TD]120
[/TD] [TD]118
[/TD] [/TR] [TR] [TD]M
[/TD] [TD]Professional, Scientific and Technical Activities
[/TD] [/TD] [TD]826
[/TD] [TD]899
[/TD] [TD]891
[/TD] [/TR] [TR] [TD]N
[/TD] [TD]Administrative and Support Activities
[/TD] [/TD] [TD]702
[/TD] [TD]595
[/TD] [TD]602
[/TD] [/TR] [TR] [TD]O
[/TD] [TD]Public Administration and Defence, Compulsory Social Security
[/TD] [/TD] [TD]905
[/TD] [TD]779
[/TD] [TD]752
[/TD] [/TR] [/TD] [TR] [TD]P
[/TD] [TD]Education
[/TD] [TD]334
[/TD] [TD]341
[/TD] [TD]326
[/TD] [/TD] [/TR] [TR] [TD] [TD]Q
[/TD] [TD]Activities Related to Human Health and Social Care[/TD] [/TD] [TD]
329
[/TD] [TD]242
[/TD] [TD]257
[/TD] [/TR] [TR] [TD]R
[/TD] [TD]Arts, Entertainment and Recreation
[/TD] [/TD] [TD]346
[/TD] [TD]333
[/TD] [TD]335
[/TD] [/TR] [TR] [TD]S
[/TD] [TD]Other Service Activities Services
[/TD] [/TD] [TD]347
[/TD] [TD]350
[/TD] [TD]350
[/TD] [/TR] [TR] [TD]T
[/TD] [TD]Household Activities
[/TD] [TD]23
[/TD] [TD]17
[/TD] [/TD] [TD]18
[/TD] [/TD] [/TR] [TR] [TD]U
[/TD] [TD]Activities of NPISHs
[/TD] [TD]7
[/TD] [TD]10
[/TD] [TD]9
[/TD] [TD]9[/TD] [/TD] [/TR] [TR] [TD] [/TD] [TD]
Newcomers
[/TD] [TD]788
[/TD] [TD]562
[/TD] [TD]553
[/TD] [/TD] [/TR] [TR] [TD] [/TD] [TD]Total
[/TD] [TD]16.597
[/TD] [TD]
14.699
[/TD] [TD]14.304
[/TD] [/TR] [/TR]
Methodological Information
Registered Unemployed
The number of registered unemployed refers to persons over 15 years of age who go to the Provincial and Local Labour Offices of the Labour Department to find a job and are registered as unemployed. These persons must be able and available for work and actively seeking employment. The monthly number of registered unemployed refers to persons who on the last day of each month have an active job application.
The number of registered unemployed does not include self-employed persons, persons looking for part-time work and persons looking for work in a specific region or with a specific employer.
Seasonally Adjusted Data
Seasonal Adjustment is a statistical technique that removes the effect of seasonality from a time series, thereby making the actual trend in the change in a quantity more visible. To apply the seasonal correction, the Statistical Office uses the JDemetra+ 2.2.2 software developed by Eurostat. The adjusted time series are produced using the TRAMO&SEATS algorithm. It should be noted that, due to the seasonal correction, the entire time series of the monthly estimates is recalculated each time a new month's data is added. This recalculation often leads to revisions of the estimates for previous months. In March 2020, an update to the applied model was made.
Methodological Changes
According to an update from the Department of Labor, as of Tuesday, June 15, 2021, automatic renewal of registrations was terminated and the Public Employment Service's online platform was activated to allow the registration of a new job application, its renewal, as well as the registration of a job vacancy. This arrangement may affect the comparison of the monthly unemployment data recorded through this procedure with the data recorded by the previous procedures.
Classification system
Registered unemployed persons by economic activity are published according to the Statistical Classification of Economic Activities in the Community, Rev. 2 (NACE Rev. 2).
For more information, interested parties can visit the Statistical Service Portal, under Labour Market, CYSTAT-DB (Database), Predefined Tables (Excel), Methodological Information or contact Mr. Christoforos Michaelides at 22602154 or cmichaelides@cystat.mof.gov.cy and Ms. Maria Hatziprokopis at 22602146 or mhadjiprokopi@cystat.mof.gov.cy.
The Predefined Tables in Excel format include data up to December 2021. For data from January 2022 onwards, updates are only made to the CYSTAT-DB Database.
(NZ/EP)
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