NEW PUBLICATION: LABOUR FORCE SURVEY, 2006
The Statistical Service announces that it has published the report “Labour Force Survey” for 2006. The report provides data on the employed and unemployed population which are analysed by gender, age, education, branch of economic activity and occupational group. Data are also presented on part-time employment as well as for second job holders and the weekly hours of work. The report also provides data on the ad-hoc module on the ‘Transition from work into retirement’.
The main findings of the survey are the following:
(a) The labour force (i.e. the employed and unemployed persons) amounted to 374.285 persons in 2006 consisting of 55,7% men and 44,3% women.
(b) The employed persons reached 357.281 and the employment rate for persons aged 15-64 years old was 69,6 %. The corresponding rate for males stood at 79,4 % while that for females was much lower at 60,3%. Both rates, however, are among the highest in the European Union.
(c) The labour force of Cyprus has a relatively high educational background since almost one-third (33,4%) of the workforce have completed tertiary education and 39,8% completed upper secondary education.
(d) About 27 thousand persons or 7,7% of the employed worked on a part-time basis and 32,8% of these reported that they could not find a full-time job while 31,5% reported that they work on a part-time basis for other personal or family reasons.
(e) 4,6% of the working population or 16.441 persons reported having a second job and a large proportion of these (41,8%) chose agriculture as a sideline.
(f) The unemployment rate amounted to 4,5% of the labour force, which was lower for males 3,9% and higher for females 5,4%. The highest rate of unemployment was observed among young persons below 25 years of age where it accounted for 10,0% of the labour force of the same age group.
The main findings of the ad-hoc module are the following:
(a) 41,4% of the persons in retirement received pension at the age of 63 years old, 19,9% at the age of 60 years old and 13,0% at the age of 55 years old.
(b) 35,5% of the persons asked aged 50-69 years old plan to stop working for pay or profit at the age of 65 years old or more, 23,3% between the ages of 60 and 64 years old, 9,4% does not know yet, while 29,8% has already stopped working.
(c) 53,3% of the persons asked have as main financial incentive to stay at work the provision of sufficient household income, 15,2% the increase of the retirement pension entitlements while 31,5% do not have any financial incentive.
(d) 65,9% of the persons in retirement, retired because they had reached compulsory retirement age, 15,6% due to family/or personal reasons, 7,7% due to favourable financial arrangements to leave and 5,4% because of own health or disability problems.
(e) 7,3% of the persons asked stated that they receive disability pension or sickness benefit, 7,0% widow’s pension or social pension while 85,3% do not receive any other individual benefits.
The report is available for sale at the Government Printing Office in Nicosia at the price of £8,00 per copy. The report is also available for download free of charge from the website of the Statistical Service.