The latest trends in government employment in Cyprus show an increase of 1.6% in November 2023, with a rise of 867 employees. Temporary positions, especially in educational services, have surged due to policy changes, despite a decline in permanent staff by 722 individuals. The educational sector saw the most significant temporary staff increase at 34.7%. Additionally, the Cyprus Shipping Chamber participated in the “Shaping the Future of Shipping: Delivering a Net Zero World Summit,” highlighting the country’s commitment to a sustainable and carbon-neutral shipping industry. Meanwhile, the Cyprus Stock Exchange encountered a downturn, with losses reported in the market.
What are the latest trends in government employment in Cyprus?
Government employment in Cyprus has increased by 1.6% in November 2023, with a notable rise of 867 employees. Temporary positions, especially in educational services, have surged due to policy changes, despite a decline in permanent staff by 722 individuals. The educational sector saw the most significant temporary staff increase at 34.7%.
Government Employment Trends in Cyprus
In a recent update from the Cyprus Statistical Service (Cystat), it was highlighted that government employment experienced a substantial upswing in November 2023. Specifically, the number of individuals employed by the government rose to 54,404. This represents an increase of 867 employees, or 1.6 percent when compared to the previous year. A significant part of this uptick is directly linked to the rise in temporary posts within the state’s educational services.
While permanent staff numbers saw a decline of 722 individuals, a marked contrast is seen in the temporary staff sector, which surged by 3,174 individuals. The majority of this growth is due to policy changes in the educational sector. The abolishment of the service procurement regime in support programs initiated by the Ministry of Education, Culture, Sports, and Youth has necessitated the hiring of more temporary staff for the 2023-2024 academic year.
Sector-Specific Employment Shifts
The distribution of personnel changes in Cyprus paints a detailed picture. A decrease across all categories of permanent staff was reported, signifying a systemic shift in government employment practices. On the other hand, the temporary personnel category across all sectors experienced growth, with the most significant increase occurring in the Educational Services at 34.7 percent.
In an interesting sub-trend, hourly paid staff numbers dropped by 18.9 percent. This decrease has been largely attributed to the restructuring of the Ministry of Health and the subsequent transfer of hourly staff to the State Health Services Organisation, which came into effect in January 2023. This move is part of broader public sector reforms.
Cyprus at the Forefront of Global Shipping Discussions
A pivotal event for the shipping industry was the “Shaping the Future of Shipping: Delivering a Net Zero World Summit,” hosted by the International Chamber of Shipping (ICS). The Cyprus Shipping Chamber proudly participated in this summit, which took place in Dubai and was attended by over 300 professionals from the global shipping and energy sectors, along with key policymakers.
The gathering served as a strategic forum to discuss the pressing challenge of decarbonising shipping. The summit’s outcomes are expected to influence recommendations to the COP28 presidency and act as a guide for maritime policy leaders. Cyprus’s representation included notable figures such as Board Member Despina Panayiotou Theodosiou and Deputy Director General Alexandros Josephides. Their participation underscores Cyprus’s commitment to leading dialogue and actions toward a sustainable and carbon-neutral shipping industry.
Cyprus Stock Exchange Encounters a Downturn
The Cyprus Stock Exchange (CSE) had a tumultuous day on Tuesday, December 12, as it closed with losses. The general Cyprus Stock Market Index stood at 134.78 points, showing a decline of 0.95 percent from the previous trading day. This downtrend was similarly reflected in the FTSE / CySE 20 Index, which fell to 81.84 points, a 0.96 percent decrease.
Trading activity was dominated by key players such as the Bank of Cyprus, Hellenic Bank, and others, with the total value of transactions reaching €135,583. While the main, alternative, and investment firm indexes experienced declines, the hotel index managed to maintain its stability amidst the market downturn. This performance reinforces the dynamic and ever-changing nature of stock markets, both locally and globally.
What are the latest trends in government employment in Cyprus?
Government employment in Cyprus has increased by 1.6% in November 2023, with a notable rise of 867 employees. Temporary positions, especially in educational services, have surged due to policy changes, despite a decline in permanent staff by 722 individuals. The educational sector saw the most significant temporary staff increase at 34.7%.
What is the impact of the rise in temporary staff in the government sector?
The rise in temporary staff in the government sector is primarily driven by policy changes in the educational sector. The abolishment of the service procurement regime in support programs initiated by the Ministry of Education, Culture, Sports, and Youth has necessitated the hiring of more temporary staff for the 2023-2024 academic year. This has resulted in a significant increase of 3,174 temporary staff across all sectors, with the educational services sector experiencing the highest growth at 34.7%.
How is Cyprus contributing to the global shipping industry’s sustainability efforts?
Cyprus is actively involved in shaping the future of the shipping industry towards a sustainable and carbon-neutral world. The Cyprus Shipping Chamber recently participated in the “Shaping the Future of Shipping: Delivering a Net Zero World Summit,” a strategic forum that discussed the challenge of decarbonising shipping. Cyprus’s representation at the summit underscores its commitment to leading dialogue and taking action towards a sustainable and carbon-neutral shipping industry. The outcomes of the summit are expected to influence recommendations to the COP28 presidency and guide maritime policy leaders.
What is the current state of the Cyprus Stock Exchange?
The Cyprus Stock Exchange (CSE) recently encountered a downturn, with losses reported in the market. On December 12, the general Cyprus Stock Market Index declined by 0.95%, and the FTSE / CySE 20 Index fell by 0.96%. The trading activity was dominated by key players such as the Bank of Cyprus and Hellenic Bank. However, the hotel index managed to maintain its stability amidst the market downturn. This highlights the dynamic and ever-changing nature of stock markets, both locally and globally.
