The number of registered unemployed individuals at the end of November 2023 stood at 12,662, according to records maintained by the District Labour Offices.

Based on seasonally adjusted data from the Statistical Service of Cyprus, which reflects unemployment trends, the number of registered unemployed in November 2023 decreased to 11,808. This represents a reduction from the 11,873 recorded in the previous month.

Compared to November 2022, there was a decrease of 2,647 individuals or 17.3%. This decline is primarily attributed to sectors such as accommodation and food services, trade, construction, financial, and insurance activities, as well as a reduction in new entrants to the labor market.

The latest data from the Industrial Turnover Index for September 2023 show a modest annual increase of 0.6%, reaching 206.6 units (base 2015=100), compared to September 2022.

The Statistical Service notes that from January to September 2023, the index rose by 6.7% compared to the same period last year.

In manufacturing, the Industrial Turnover Index for September 2023 reached 188.8 units, a 5.2% increase from September 2022.

The mining and quarrying sector also experienced growth, with a 4.7% increase in September 2023 compared to the same month in the previous year.

Conversely, the electricity supply sector faced a significant decline of 10.7%. The water supply and materials recovery sector also saw a downturn, with a 4.0% decrease.