70,000 new jobs in the next ten years

NEARLY 70,000 new jobs will be created in Cyprus in the next ten years, the Human Resource Development Authority of Cyprus (HRDA) announced yesterday.
According to the Authority, the number of employed Cypriots in 2010 was 382,547 and this number  was expected to increase to 451,423 in ten years’ time, marking an 18.0 per cent increase.
As a result, the coming decade is expected to see 69,000 new job positions open – 32,000 by 2015 and another 37,000 by 2020, HRDA said.
Up until 2007, the HRDA said there was an impressive 5.8 per cent upward trend in employment opportunities rates. But from 2008 onwards once the effects of the financial crisis started being felt, Cyprus noted a 0.4 per cent increase in unemployment by 2009.
The Authority predicts a slightly positive change in employment rates by the end of this year, while there is expected to be a 1.6 to 1.9 per cent increase in the employment rate in the period 2012-2020.
“The tertiary services’ sector is expected to be the steam engine of the economy,  in which most people will be employed, with the number in 2010 reaching 283,726 and increasing to 344,142 by 2020,” said the HRDA, adding that this would mean a 21.3 per cent increase of employment in that sector.
Secondary sectors – such as manufacturing and construction – are expected to see an 11.1 per cent increase in staff, with 83,385 persons employed in 2010 increasing to 92,623 by 2020.
This is in contrast to primary sectors – such as agriculture and mining – which will note a slight decrease in human resources by 2020. “Employment numbers in these sectors during 2010 will be around 15,436, while in 2020 this number is predicted to drop to 14,658, marking a 5.0 per cent decrease in this sector,” said the HRDA.
According to the authority, the economy’s key growth tool will be the professions that demand a university degree, job positions for which are expected to increase by 31.6 per cent, taking the current number of 126,265 workers to 166,304.
However, the largest share of the employment market will be shared by professionals with a secondary-school education.
“In this sector, there are 195,735 employees in 2010, while in 2020 this is expected to reach 212,389, marking an 8.5 per cent increase,” said the HRDA.
There is also predicted to be a 20.3 per cent increase in employment for workers with no academic qualifications, with the current number of 60,447 people expected to rise to 72,730 in unskilled positions.

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