Cyprus News Agency: News in English, 13-06-28

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Unemployed persons reached 70,7 thousand in 1st quarter 2013

[02] Average monthly earnings in Cyprus decrease in 1st quarter of 2013

[01] Unemployed persons reached 70,7 thousand in 1st quarter 2013

According to an announcement issued Friday by the Statistical Service, the number of employed persons amounted to 375,4 thousand (males 196,1 thousand and females 179,3 thousand).

The employment rate for persons aged 20-64 was 67,4% (males 72,9% and females 62,3%) recording a decrease from the previous quarter of 2012, 69,8% (males 75,6%, females 64,4%) and the corresponding quarter of 2012, 70,3% (males 75,6% and females 65,5%).

The unemployment rate amounted to 15,9% of the labour force (males 16,2% and females 15,4%) recording an increase from the previous quarter of 2012, 12,7% (males 13,2%, females 12,2%) and the corresponding quarter of 2012, 11,1% (males 12,2% and females 9,8%).

Also the unemployment rate for young persons aged 15-24 amounted to 37,5% of the labour force of the same age group recording an increase from the previous quarter of 2012, 32,0% and the corresponding quarter of 2012, 26,7%.

[02] Average monthly earnings in Cyprus decrease in 1st quarter of 2013

The corresponding percentage change observed during the first quarter of 2012 was 1,9%. According to the preliminary estimations of the Statistical Service, the average gross monthly earnings of employees during the first quarter of 2013 amounted to €1.880 (males €2.031 and females €1.702).

An announcement issued here today by the Statistical Service notes that in comparison with the fourth quarter of 2012 (seasonally adjusted data) there was a decrease of -0,4% in the average monthly earnings of employees (males -0,5% and females -0,1%).

The corresponding percentage change observed during the first quarter of 2012 was 0,1%, it adds. It also notes that the deductions to the earnings of employees in the broad public sector, which were implemented, starting from the fourth quarter of 2011 and 2012, do not affect the gross salary of employees but only their net income.

Consequently, it concludes, while these deductions reduce the disposable income of employees, they are not reflected in the fluctuation of gross earnings and the figures above.

Cyprus News Agency: News in English Directory - Previous Article - Next Article