The number of registered unemployed in Cyprus decreased by 15.7% year-on-year at the end of October, according to the Statistical Service.

Specifically, based on data maintained by the District Labor Offices, the number of registered unemployed at the end of October 2024 reached 7,781 individuals.

Seasonally adjusted data, which indicate the trend in unemployment, showed that the number of registered unemployed in October 2024 decreased to 10,208 compared to 10,265 in the previous month.

Compared to October 2023, there was a reduction of 1,451 individuals or 15.7%. This decrease is mainly attributed to reductions in the finance and insurance sectors, construction, trade, manufacturing, and a decrease in the number of new entrants to the labor market.

The Industrial Turnover Index in Cyprus recorded an annual increase of 2.2% in August, according to the Statistical Service.

Specifically, the Index reached 118.3 points in August 2024.

In the manufacturing sector, the Index reached 103.5 points in August 2024, marking a 0.6% increase compared to August 2023.

An increase was also observed in the sectors of mining and quarrying (8.0%), electricity supply (6.3%), and water supply and materials recovery (3.7%).

For the period from January to August 2024, the Index showed an increase of 2.3% compared to the same period of the previous year.

The value of bounced checks issued in Cyprus saw a significant annual decrease of 65% during the period from January to October 2024.

According to data from the Central Bank of Cyprus, related to the Central Information Registry for October 2024, the total value of bounced checks issued during the reference period and recorded in the provisional list amounted to €533,524 compared to €1,536,852 in the previous year.

The number of checks issued from January to October 2024 was 252, compared to 280 during the same period last year.

According to the data, entries in the Central Information Registry over the ten-month period reached 179, compared to 228 in the corresponding period last year. Specifically, the registry recorded 68 legal entities (85 during the same period in 2023), 29 individuals (28 in 2023), and 82 individuals controlling legal entities (105 in 2023).

The average number of entries for the ten months of 2024 was 18, compared to 23 for the same period last year.