Job vacancy rate in Cyprus at 2.9% in Q2

In the second quarter of 2023, the job vacancy rate in Cyprus stood at 2.9% (3.0% in the Eurozone, 2.7% in the EU), according to figures published by Eurostat, the statistical office of the EU.

The job vacancy rate in Cyprus increased compared to the first quarter of 2023 (from 2.8%) and compared to the second quarter of 2022 (from 2.7%).

In the Eurozone, the job vacancy rate declined from 3.1% in the previous quarter and 3.2% in the second quarter of 2022. In the EU, there was a drop from 2.8% in the previous quarter and from 3.0% in the second quarter of 2022.

The job vacancy rate in Cyprus stood at 1.6% in industry and construction and at 3.8% in services during the second quarter of 2023.

In the euro area, the job vacancy rate in the second quarter of 2023 was 2.6% in industry and construction and 3.3% in services. In the EU, the rate was 2.4% in industry and construction and 3.0% in services.

Among the Member States for which comparable data are available, the highest job vacancy rates in the second quarter of 2023 were recorded in the Netherlands (4.7%), Belgium (4.6%), and Austria (4.4%).

The lowest rates were observed in Bulgaria and Romania (0.8% in both of them), Spain and Poland (0.9% in both of them) and Slovakia (1.0%).

Compared with the same quarter of the previous year, the job vacancy rate increased in four Member States, remained stable in four Member States and decreased in nineteen Member States.

The increases were observed in Greece (+0.4 pp), Cyprus (+0.2 pp), Portugal and Italy (both +0.1 pp).

The largest decreases were recorded in Czechia (-1.2 pp), Denmark, Luxembourg and Finland (-0.8 pp in all of them).

By economic activity, the highest job vacancy rates, for both the EU and the euro area, were recorded during the second quarter of 2023 in administrative and support service activities, which includes temporary employment agencies (4.5% in the Eurozone, 4.3% in the EU), followed by professional, scientific and technical activities (4.0% in the Eurozone, 3.7% in the EU), construction (4.0% in the Eurozone, 3.6% in the EU), accommodation and food service activities (3.9% in the Eurozone, 3.7% in the EU) and information and communication (3.4% in the Eurozone, 3.1% in the EU).