Annual unemployment in Cyprus down by 1.5% in May

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Unemployment was down by 1.5% in May 2014 compared to May 2013, data released by the Cyprus Statistical Service on Wednesday show.

In particular unemployed persons, registered at the District Labour Offices on the last day of May 2014, reached 43,768 persons.

Based on the seasonally adjusted data which show the trend of unemployment, the number of registered unemployed for May 2014 fell to 47,393 persons in comparison to 47,827 in April 2014.

In comparison with May 2013, unemployment was down by 656 persons or 1.5% a downward trend mainly observed in trade (down by 1,318), construction (down by 924), manufacturing (down by 388), professional, scientific and technical activities (down by 198) and education (down by 169).

It is further noted that that during the same period unemployment followed an upward trend in financial and insurance activities (up by 1,232 unemployed persons), public administration (up by 557) and newcomers in the labour market (up by 210).

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