Press Releases

Unemployment 4,6% 

According to the results of the Labour Force Survey (LFS), the labour force in the 2^nd quarter of 2024 amounted to 511.423 persons or 65,1% of the population (males 69,9%, females 60,6%) in comparison to 511.573 persons (65,9%) in the corresponding quarter of 2023 (Table 1). 

The number of employed persons was 487.663 and the employment rate 62,0% (males 67,0%, females 57,5%) in comparison to 482.483 persons (62,1%) in the corresponding quarter of 2023. 

The number of unemployed persons amounted to 23.760 and the unemployment rate to 4,6% of the labour force (males 4,2%, females 5,2%) in comparison to 29.090 persons (5,7%) in the corresponding quarter of 2023.

Employment (Table 2) 

For the age group 20-64, the employment rate was 80,1%. The rate for males was 85,4% and for females 75,2%. In the corresponding quarter of 2023, the rate was 80,1% (males 84,8%, females 75,7%). For the age group 55-64, the employment rate was 71,1% in comparison to 66,9% in the corresponding quarter of 2023.

According to the distribution of employment by sector, the biggest percentage of employed persons was in Services (81,5%), followed by Manufacturing (16,2%) and Agriculture (2,3%). For the 2^nd quarter of 2023, the corresponding percentages were Services 81,6%, Manufacturing 16,1% and Agriculture 2,3%. 

The share of part-time employment to total employment was 8,9% or 43.621 persons (males 6,6%, females 11,5%). The corresponding rate for the 2^nd quarter of 2023 was 9,3% (males 7,2%, females 11,4%). 

90,0% or 438.854 of the total employed persons were employees, of which 14,4% (63.151 persons) had a temporary job. In the corresponding quarter of 2023, employees accounted for 89,4% of total employment, of which 13,8% had a temporary job.

Unemployment (Table 3)

For young persons aged 15-24 years old, the unemployment rate was 14,2% of the labour force of the same age group (males 12,6%, females 16,0%) in comparison to 15,3% (males 16,9%, females 13,5%) in the corresponding quarter of last year. 

As far as the duration of unemployment is concerned, 49,0% of the total unemployed persons searched for a job for a period of less than 6 months, 16,5% for a period of 6-11 months, whereas a percentage of 34,5% were long-term unemployed. The corresponding rates for the 2^nd quarter of 2023 were 49,8%, 17,3% and 32,9%.

Methodological Information 

Survey Identity 

The Labour Force Survey (LFS) is conducted in all European Union (EU) member states every quarter in accordance with Regulation (EU) 2019/1700 of the European Parliament and of the Council, which entered into force on 1.1.2021. Until 2020, the LFS was conducted in accordance with Regulation 577/98 of the Council of the EU. In Cyprus, the survey was carried out in 1999 for the first time and until 2003, it was conducted in the second quarter of every year. As from the second quarter of 2004 onwards, the LFS is conducted every quarter on a continuous basis. 

The main objective of the LFS is to distribute the population aged 15 years and over into three main categories, regarding their labour status, the employed, the unemployed and the persons outside the labour force (inactive). In addition, the survey collects data related to the main job, the occupation, the working hours, the highest level of education, the search of a job, as well as other useful information that is used in policy formulation on labour matters and for pursuing and evaluating programmes that are applied both by the Government and by the EU. 

Coverage and Collection of Data 

The LFS covers a sample of 3.800 households in all districts of Cyprus, which are allocated according to the number of households that reside in urban and rural areas. 

For comparability of the results, in all member states, the survey covers the population of private households only. It does not cover persons residing in collective households (i.e. institutions, homes for the aged, hospitals, monasteries etc.), conscripts on compulsory military service, as well as students who study abroad and Cypriots who work abroad. 

The collection of the data from the Statistical Service is done with personal interviews and the use of portable computers as well as with telephone interviews. 

Methodological Changes 

With the adoption of the new European Regulation on Social Statistics (2019/1700), the LFS is conducted with significant changes in the design and implementation of the questionnaire, so that it is fully harmonised with this new regulation. The most important changes in the context of the adoption of the new regulation are: 

The above changes in the regulations have not affected the comparability of the results of the LFS from 2021 onwards. A special study conducted to check the above changes in the regulations shows that the implementation of the new regulation from 2021 onwards had no impact on the results of the LFS. 

It is noted that the coronavirus pandemic (COVID-19) had affected both employment and unemployment, as the measures taken by the government for the restrain of the pandemic had affected businesses of various economic activities (e.g. total or partial suspension of their operation). As a result, persons employed in these businesses did not work for a significant period of time (more than 3 months) and therefore were not considered as employed. Additionally, persons who were not employed were not actively seeking for work (since there were no jobs), although they were available to work within 2 weeks following the reference week and hence were not considered as unemployed. 

Revision of data, based on the results of the Census of Population and Housing 2021 

The data for the 2^nd quarter of 2024 have been estimated based on the results of the Census of Population and Housing 2021. Additionally, data have been revised for the period covering the 1^st quarter of 2022 up to the 1^st quarter of 2024. Further data revisions covering the period from the 1^st quarter of 2019 up to the 4^th quarter of 2021 will be implemented by the end of October. 

Definitions 

Labour Force / Economically Active Population – The total number of the employed and unemployed persons aged 15 years and over. 

Employed – Persons aged 15-89 years old who during the reference week worked for at least one hour, as well as persons who had a job but were temporarily absent from work. 

Unemployed – Persons aged 15-74 years old who comply to the following standards: 

• Neither worked nor had a job, from which they were temporarily absent during the reference week. 

• They had actively sought for work, i.e. had taken specific steps during the previous 4 weeks to find work or found a job which will start within a period of at most 3 months. 

• They were available to start work within the 2 weeks following the reference week. 

Long-term unemployed – Persons aged 15-74 years old who searched for work for a period of 12 months or more. 

Inactive – Persons aged 15 years and over who are neither employed nor unemployed. 

Labour Force participation rate – The number of persons in the labour force for any group expressed as a percentage of the total population in the same group. 

Employment rate – The number of employed persons for any group expressed as a percentage of the total population in the same group. 

Unemployment rate – The number of unemployed persons of any group expressed as a percentage of the labour force in the same group. 

Employment Estimation LFS Vs National Accounts

National Accounts employment estimates differ from the results of other statistics and surveys, especially from those obtained from the LFS. In particular, there are differences due to both integration of sources and conceptual reasons. 

The differences are presented in the file: Differences in employment estimates. 

For more information, visit CYSTAT Portal, subtheme Labour Market, CYSTAT-DB (Online Database), Predefined Tables (Excel), Methodological Information or contact Ms Maria Hadjiprokopi at 22602146 or via email: mhadjiprokopi@cystat.mof.gov.cy or Mr Christophoros Michaelides at 22602154 or via email: cmichaelides@cystat.mof.gov.cy. 

The data included in the Predefined Tables in Excel format are available up to the 4^th quarter of 2021. Data from the 1^st quarter of 2022 onwards are available only in the CYSTAT-DB Online Database. 

(GS/NZ)