The Cypriot Statistical Service (Cystat) has released the latest figures regarding the levels of unemployment, showing a slight decrease from the previous month.
The full statement follows below:
The unemployed persons, registered at the District Labour Offices on the last day of December 2019, reached 25.285 persons. Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for December 2019 decreased to 20.140 persons in comparison to 20.631 in the previous month.
In comparison with December 2018, a decrease of 4.515 persons or 15,2% was recorded, attributed mainly to the sectors of public administration (a decrease of 1.026), trade (a decrease of 646), construction (a decrease of 611), accommodation and food service activities (a decrease of 288), transportation and storage (a decrease of 258), manufacturing (a decrease of 254) and to newcomers in the labour market (a decrease of 875).
Methodological notes: Definitions
The number of registered unemployed concerns the persons aged 15 years and over who apply at the District and Local Labour Offices of the Department of Labour to seek employment and are registered as unemployed. These persons have to be able and available for work and must be actively looking for one. The monthly number of registered unemployed concerns the persons who during the last day of the month have an active application for seeking employment.
The number of registered unemployed does not included self-employed or persons who seek part-time employment, as well as persons who seek employment in certain areas or for a specific employer.
Seasonally Adjusted data
Seasonal adjustment is a statistical technique that removes the seasonal component of a time series, making more visible the underlying trend in the change of a characteristic. CYSTAT uses the Demetra 2.04 software which was developed by Eurostat. Seasonally adjusted series are produced by the TRAMO&SEATS algorithm. It should be noted that due to seasonal adjustment the whole series with the monthly estimates is recalculated every time a new month is added in time series. As a result, estimations for the previous months are often revised.
Registered unemployed by economic activity are published based on the classification system NACE Rev. 2.