Cyprus unemployment increase moderates in Feb

The pace of increase of registered unemployment moderated slightly in February, rising by 27.1% over the year earlier to 37,874, compared with a rise of 28.3% in January.
The Statistical Service does not produce a registered unemployment rate but Eurostat estimated the unemployment rate at a record 9.3% in January.
However, on a seasonally adjusted basis, registered unemployment still increased according to the Statistical Service, rising by 600 to 32,827, from 32,247 in the previous month.
The increase over the year earlier mainly clearly hit lower-skilled workers who are vulnerable to cheaper labour from abroad.
The main sectors hit were construction (an increase of 1,817), wholesale and retail trade (1,782), accommodation and food service activities (1,243), manufacturing (1,059) and public administration (584).
There was an increase of 100 new unemployed newcomers to the labour market.