The registered unemployment rate in Cyprus rose by 1,381 persons to 14,169 in December 2008, marking a sharp rise of 10.8% compared with December 2007.
A downturn in the construction sector can be seen from the sectoral figures.
The largest rise in terms of numbers came from the construction sector, where unemployment rose year on year by 363 persons.
The broad sector of real estate, rental and business activities also saw a significant increase of 284 people.
Wholesale and retail trade also seems to have been affected, as unemployment in this sector rose by 263 persons.
Unemployment rose in December for the fourth consecutive month, having previously fallen for 16 straight months.
For the year as a whole, however, unemployment fell by 4% to 11,541 persons, compared with 12,017 in 2007.
Fiona Mullen, www.sapientaeconomics.com, December 09, 2009 – www.financialmirror.com