Vacancies up 27% in Q1 driven by construction, Cystat says

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By Stelios Orphanides

The number of vacancies in the first quarter of the year rose an annual 27 per cent to 3,890 and more than doubled compared to October to December last year, the statistical service said.

The vacancy ratio in the first three months of the year was 1.2 per cent, compared with 0.6 per cent the quarter before and 1 per cent in the first quarter last year, Cystat said in a statement on its website on Wednesday. The highest ratio was the 2 per cent reported in the hospitality industry followed by a 1.7 per cent in manufacture.

In the first quarter, the largest increase in vacancies was in the construction sector which rose 448 per cent compared to the respective period of 2016 while the largest drop was 76 per cent in mining and quarrying, Cystat said.

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]