45 young unemployed every day in Cyprus!

The number of registered unemployed rose again in May, reaching a new record and further intensifying concerns about a rapid deterioration in labor market conditions.

According to StockWatch, the job market looks like a volcano about to erupt as data constantly changes for the worse.

Most companies cut wages and benefits, while some close as they do not have the means to survive.

According to data announced by the Statistical Service, in May the number of registered unemployed decreased to 44.424 people compared to 45.201 in the previous month and 34.162 in May 2012.

The data corrected for seasonal fluctuations, which show the trend of unemployment, show that the number of registered unemployed in May 2013 increased to 45.736 persons compared to 44.333 in the previous month and 35.630 in May 2012.

That is, in May, 1403 new people were added to the list of unemployed - 45 per day.

Compared to May 2012, there was an increase of 10.262 persons or 30,0%, which is mainly attributed to the sectors of trade (increase of 2.464 unemployed), public administration (increase of 1.391), construction (increase of 1.242), manufacturing (increase of 1.050) , the activities of accommodation services and catering services (increase 639), as well as new entrants to the labor market where there was an increase of 851 unemployed.

By economic activity, most of the unemployed come from the wholesale and retail sector (9.487), construction (7.615), manufacturing (4.868), public administration and defense (4.164) and restaurant-hotels (4.060).

By professional category, most of the unemployed are concentrated in the category of cleaners, messengers and unskilled workers, amounting to 8.965, while also a large number of unemployed in the category are typists with 7.521, service workers and salesmen with 7.119 and production technicians with 7.127 unemployed.

Newly arrived unemployed in May 2013 amounted to 4.594 people.

Unemployment is observed to a greater extent in the ages 30-39 with 10.371 unemployed, followed by the ages 50-59 with 9.251 unemployed and the ages 40-49 with 8.469 unemployed.

Based on the educational level, most of the unemployed are graduates of general secondary education and amount to 17.294 people while 12,2 thousand unemployed have higher education.

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