The increase in unemployment among young people is alarming, while the prospect is equally dire for the long term unemployment.
Developments reflect the further deterioration of the economy and the stifling pressure on the domestic labour market. Nowadays, there are households with two or three unemployed members, and with young people facing the biggest problem of getting a job in a scarce market.
The unemployment rate among young people aged 15 to 24 reached 37.5% in the first quarter of 2013, an increase of 10.8% percentage points compared with the same quarter of 2012 (26.7%), while in comparison with the fourth quarter of 2012, it has increased by 5.5 percentage points.
It is also noted that the unemployment rate among the young in the first quarter of 2013 amounted to 14.3% (up 3.9 percentage points compared with the same quarter last year), and increased by 1.6 percentage points compared with the last quarter of 2012.
As regards long-term unemployment, the number of registered unemployed in July, which were out of work for more than six months, reached 16,772 people and accounted for 34.94% of the registered unemployed (an increase 5,922 persons or 54.6 %).
The number of unemployed who were out of work for more than 12 months also registered an increase, as it reached 6,941 people, 14.46% of the registered unemployed (an increase of 3,194 persons or 89.2%).
Data referred to registered unemployment, which in July reached 48,000 and not to the actual amount of unemployed which is approaching 80,000 people, which can only mean the picture is even bleaker.
With regard to the national origin of registered unemployed, official data shows that there is a further increase in unemployment among Cypriots.
Greek Cypriots represent 79.8% (38,303 people) of the total, while in the same month last year, Cypriots made up 75% (27,508 people) of the pie.
Of the total unemployed, 7,602 (15.8%) were European nationals. The corresponding figure in the same month last year was 6,734 or 18% of the total unemployed.