Unemployment continues to climb in October

Registered unemployment in the Republic of Cyprus continued to climb on both a seasonally adjusted and actual basis in October, Financial Mirror reports. According to the seasonally adjusted data the number of registered unemployed for October 2012 increased to 39,510 from 38,375 in the previous month. Actual data show that unemployment rose by 29% over the year earlier to 34,752 from 26,947 in October 2011. The year on year increase was mainly in construction (an increase of 1,774), wholesale and retail trade (1,692), manufacturing (900), accommodation and food service activities (704) and public administration (690). Newcomers to the labour market rose by 446. According to Eurostat, which makes an estimate based on registered unemployment and the quarterly Labour Force Survey, the unemployment rate for Cyprus in September was 12.2%.