Cypriot report: Increased unemployment in 2001
A report issued by Cyprus’ new Workforce Development Authority report has predicted a rise in unemployment during 2001, brought mainly by a deterioration of the state of the country’s financial sector and an overabundance of repatriated Cypriots joining the job market.
According to the Sunday Mail, unemployment is expected to increase by 2.5 percent on the amount recorded during to 1999, to stand at about 22,000. Unemployment in 1999 stood at 3.63 percent of the active work force.
The unemployment blight is not evenly distributed. The cities of Nicosia and Larnaca will be hardest hit, while Paphos will be relatively spared. Job sectors, which will feel the crunch, include management, technical support and machine operation.
At the same time, there are market sectors where workers are being sought. These include tourism, the retail sales and services sectors and insurance. — (Albawaba-MEBG)