ZCZC
BCN-13
CYPRUS-UNEMPLOYMENT
Unemployment slightly up in Cyprus in October following continuous job
reduction
NICOSIA, Nov. 30, 2019 (BSS/Xinhua) – Unemployment in Cyprus went up to 7.1
percent in October from 7 percent in September, after a continuous job
reduction during the summer months, data released by the European statistical
service, Eurostat, showed on Friday.
Analysts say the increase is mainly due to the seasonal closing of some
hotels at the end of the tourist season, as tourism is a pillar industry in
the country.
However, on a year-on-year basis, unemployment was down by 0.4 percentage
points from 7.5 percent in October, 2018, Eurostat said.
Unemployment in Cyprus had peaked to over 16 percent at the height of the
financial crisis that hit the eastern Mediterranean island in 2013.
BSS/XINHUA/HR/1245