CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION
CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION

OEB is pleased for the decrease in unemployment rate

The Cyprus Employers and Industrialists Federation (OEB) is delighted to observe a continuing decrease of the unemployment rate in Cyprus.

From almost 17% in 2013, the unemployment rate has gradually fallen to 8,2% in June 2018, even better than the average in Eurozone countries (8,3%).

OEB points out that the situation is exerting strong pressures on companies in major sectors of the economy who are already facing lack of suitable staff and are unable to respond sufficiently to the demand for their products and services.

The lack of suitable staff, especially in the tourism sector, should be considered as an emergency situation.