Employment and hours worked up by an annual 2.1% and 2.3% in Q2

15:05 - 06 September 2024

Economy Reporter

Employment in Cyprus and hours worked rose by an annual 2.1% and 2.3%, respectively, in the second quarter of 2024, according to a provisional estimate published by CySTAT.

The number of people working during the 2nd quarter of 2024 is estimated at 484,308 of whom 434,770 are employees and 49,538 are self-employed.

Compared to the corresponding quarter of 2023, total employment increased by 2,1% for the 2nd quarter of 2024, driven mainly by the economic activities of Education (NACE P), Administrative and Supporting Service activities (NACE Ν), Transportation and storage (NACE H), Human Health and Social Work Activities (NACE Q) and Accommodation and Food Service Activities (NACE I), CySTAT added.

Furthermore, the actual hours worked during the 2nd quarter of 2024 are estimated at 223,299, representing an increase of 2.3%, compared to the corresponding quarter of 2023.

The most significant percentage increases were observed in the economic activities of Education (NACE P), Administrative and Supporting Service activities (NACE Ν), Accommodation and Food Service activities (NACE I) and Transportation and storage (NACE H), CySTAT said.

In the first quarter of the year total employment rose by 2.2% year on year, whereas hours worked by 2.6%.

(Source: CNA)

Employment and hours worked up by an annual 2.1% and 2.3% in Q2

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