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Cyprus - Employment forecasts 2017-27 (4/2017)-EN

The systematic monitoring of employment trends over time and projecting the future situation of the labour market are key elements for improving the adaptability of the human resources and fostering an effective and flexible labour market. The Human Resource Development Authority of Cyprus (HRDA) undertook the task of providing long-term forecasts of employment needs in Cyprus for a 10-year period.

 

The HRDA recently completed a research study providing forecasts of employment needs in the Cyprus economy.

 

The study aims to provide forecasts of employment needs, in all economic sectors and in all occupations, in the Cyprus economy for the period 2017-27 and it contributes significantly to the planning and implementation of education and training activities. It provides forecasts for employment needs in economic sectors (three broad sectors, 21 main sectors and 52 sectors) and in 309 occupations covering the whole spectrum of the Cyprus labour market.

 

Total employment in the period 2017-27 is forecasted to exhibit an upward trend recovering gradually from the consequences of the recent economic crisis. It is forecasted that during the decade 2017-27 employment will increase by 77 952 persons or 21.0%. From 371 310 persons in 2017, it is estimated that it will reach 449 262 persons in 2027. Annual employment demand for the period 2017-27 will reach 15 804 persons with an average annual rate of 3.9%. Approximately half of this demand will be for the creation of new jobs.

 

The study shows that the vast majority of employed persons will continue to be in the tertiary sector showing a significant increase. As a result, more than eight out of 10 persons will be employed in the tertiary sector, reflecting the dependence of the Cyprus economy on Services.

 

An increase in employment is expected for all three broad occupational categories. Almost half of employed persons will continue to be in middle level occupations (occupations that require secondary level education) while one in three employed persons will be in high level occupations (occupations that require tertiary level education).

 

Source: ReferNet Cyprus

 

http://www.anad.org.cy/easyconsole.cfm/page/project/p_id/404

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