Labour supply rises, unemployment
- April unemployment stands at 5.2 per cent
According to figures released by the National Statistics
Office yesterday, in April the administrative records of the Employment
and Training Corporation showed an increase of 609 persons in the labour
supply in comparison to the same month last year. The full-time gainfully
occupied population increased by of 766 persons over the same month
last year. Accordingly, the full-time gainfully occupied population
amounted to 137,701 in April 2003
The self-employed persons increased by 78 persons in April 2003 when
compared to the same month last year.
The private production sector decreased its labour force by 236 persons
in the month under review when compared to April 2002. Upon comparing
the data of April 2003 and April 2002, a decline in manufacturing is
evident. Accordingly, the turnover in employment levels in the manufacturing
industry points to a drop of 283 jobs in April 2003 when compared to
the same month last year. The vicissitudes of the manufacturing industry
varies across the different sectors of production. Actually, while a
heavy decline is being recorded in the clothing and footwear sector,
a significant growth is taking place in the electrical machinery and
printing and allied industries.
In April 2003, the private market services sector increased its labour
force by 1,644 persons. This large increase is due to the privatisation
of a major state-owned company whose employees were transferred from
the public to the private sector. While the banking, transport and hotels
sectors recorded a slight decline, the wholesale and retail trade sector
underwent a significant growth in employment in the twelve months to
The public sector continued to reduce its labour force in the twelve
months to April 2003. Accordingly, there were 572 less persons on the
public sector payroll in April 2003 when compared to the same month
last year. Most of the drop occurred in the economic activities where
the state is relinquishing its former ownership in favour of privatisation.
On the other hand, a significant growth is being recorded in the Independent
Statutory Bodies which include the corporations, authorities and foundations.
Registered unemployment rate
In April 2003, the registered unemployed amounted to 7,480. Actually,
there was a decrease of 157 persons on the unemployment register in
the twelve months prior to April 2003. The unemployment rate in April
2003 stood at 5.2 per cent.