In a puzzling paradox, recent data highlights a near-equal number of job vacancies and registered unemployed in Cyprus's economic sectors. In Q2 2023, there were 13,027 job vacancies, closely matched by 13,177 registered unemployed in June.

The peculiar twist? Most vacancies arise in sectors where the majority of the registered unemployed had previously worked. This revelation becomes even more confounding when considering that these unemployed individuals often have the requisite experience for the open roles.

This anomaly was brought to light by the Statistical Service and has led to pronounced questions, especially in light of employers' and various organizations' frequent laments about significant staff shortages.

KEVE, Cyprus Chamber of Commerce and Industry, shared its perspective on the matter with Brief. Marios Tsiakkis, the General Secretary of KEVE, emphasized that this dilemma became more acute post-COVID-19. The pandemic saw a wave of foreign workers leave Cyprus, with many not returning.

Tsiakkis suggests that better practices and processes by the Ministry of Labor might address this mismatch, especially concerning those unemployed who are capable of working. He also commented on the possible misuse of the EEE benefits system, urging more frequent checks to identify those who might be exploiting the system in lieu of seeking employment.

Further complicating the issue is the departure of foreign labor from Cyprus and strict employment criteria for individuals from third countries.

When questioned about the potential link between the current staff shortages and low wages, Mr. Tsiakkis mentioned the introduction of a minimum wage. However, he emphasized that even major corporations, known for offering high salaries and benefits, are facing staffing issues. He believes that while wages might play a role in the shortage, they don't fully explain the significant gaps in personnel.