There was a significant increase of 53.9% in the number of Job Vacancies recorded in the 4th quarter of 2023.
Job vacancies amounted to 12,038, showing an increase of 4,217 positions compared to the corresponding quarter of the previous year, which was 7,821, according to data released on Wednesday by the Cyprus Statistical Service.
On the contrary, there was a decrease of 236 positions (-1.9%) compared to the 3rd quarter of 2023.
The proportion of job vacancies to the total number of employees and job vacancies in the 4th quarter of 2023 was 2.8%, while in the previous quarter and the corresponding quarter of 2022, it was 2.9% and 1.9% respectively.
The highest rates of job vacancies in the 4th quarter of 2023 are observed in the sectors of Administrative and Support Service Activities (5.2%), Other Service Activities (3.9%), and Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles (3.5%).
The sectors with the highest increase in the number of job vacancies between the 4th quarter of 2022 and the 4th quarter of 2023 are Real Estate Activities with an increase of 437.5%, Construction with an increase of 177.6%, Administrative and Support Service Activities with 137.7%, and Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles with an increase of 129.6%.
The sectors with the greatest decrease between the 4th quarter of 2022 and the 4th quarter of 2023 are Electricity, Gas, Steam, and Air Conditioning Supply by 87.5%, Mining and Quarrying by 70%, Arts, Entertainment, and Recreation by 28.8%, and Financial and Insurance Activities by 19.8%.