unemployment

Nearly half of Cyprus graduates over-skilled for their jobs

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Nearly half of Cyprus graduates over-skilled for their jobs

– Approximately 46% of Cypriot graduates consider themselves overeducated for their jobs.
– A study by the department of higher education of the education ministry in Cyprus identified skills mismatch as a major concern.
– The study is part of a programme funded by the EU Recovery and Resilience Plan aimed at addressing skills mismatch between education and the labor market.
– Skills mismatch and overeducation are major challenges across Europe, not just in Cyprus.
– The study quotes the European Centre for the Development of Vocational Training (Cedefop) on the need to align individuals with appropriate skills to suitable jobs.
– Various types of skills mismatches include overeducation, undereducation, horizontal mismatch, over-skilling, and skills obsolescence.
– National data on the type and extent of skills mismatches in Cyprus are limited.
– The study aims to collect data on graduates’ pathways after higher education and the labor market’s needs for knowledge and skills.
– Undereducation is less of a problem, with a small percentage of graduates reporting lower education levels than required by their jobs (9% in 2016/17 and 8% in 2020/21).
– The field of natural sciences had the highest percentage of graduates reporting being undereducated (22%).
– The study also measured over-skilling and under-skilling, finding that graduates’ skill levels were significantly higher than required by their current jobs for almost all skills assessed.

A step in right direction for UK, BoE cautious

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A step in right direction for UK, BoE cautious

The text discusses the progress of the UK in cutting interest rates and the challenges involved in doing so. It mentions that wage growth is slowing, but it is uncertain if it will fall to a level consistent with 2% inflation. The unemployment rate has fallen to 3.8%, but it is no longer a reliable indicator. The Bank of England is relying on various data and surveys to make judgments about the labor market. The text also briefly mentions oil prices, gold prices, and the milestone of bitcoin breaking above ,000.

Does anyone care about the real workers?

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Does anyone care about the real workers?

President Nikos Christodoulides announced a seat of 80 measures, which will be his administration’s policy priorities for 2024. Opposition parties criticized the declarations as lacking substance and repeating previous statements. The president backtracked on election pledges regarding benefits for vulnerable groups. He diverted attention by declaring fast-tracked benefits for new pensioners. Trade unions have significant influence in securing their demands. Unemployment benefits take a long time to process, despite online paperwork. Unemployment benefits are based on the average wage prior to application, while pensions have been debated. The difference in benefits raises questions about the government’s concern for ordinary workers.

Cyprus theater unions respond to Federation’s statement

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Cyprus theater unions respond to Federation’s statement

The announcement of the Federation of Theatre Organizations of Cyprus is seen as a setback against actors and their pursuit of labor rights, according to their unions. The Union of Actors of Cyprus and the Theatre Artists of PEO expressed surprise at the announcement made by the collective body of the five historic theaters of Cyprus. The actors’ unions have consistently faced resistance from the Federation when seeking negotiations for the renewal of the Collective Agreement. The unions state that they do not compromise on issues regarding the minimum wage and the duration of contracts. They accept the Federation’s proposal for a reduction in the amounts of the Welfare Fund and the non-payment of the 13th salary for the first half of 2024. The theater organizations had the opportunity to revise their proposals based on the criteria of the Agreement but did not do so. The actors’ bodies have achieved the reintegration of the Collective Agreement into the Thymeli Plan as a prerequisite for public funding. The renewal of the Collective Agreement of the Free Theatres has been pending since 2012, and the theater organizations have consistently refused to meet with the unions to negotiate. The theater organizations rejected essential articles of the agreement, including the minimum wage, duration of employment, and payment of funds. The unions filed a complaint with the Ministry of Labor in 2022, and the Ministry determined that the Collective Agreement remains in force. The unions have repeatedly invited the theater organizations to meet and discuss, but the organizations have refused. The unions emphasize the need for unity and support to find real solutions and demand better treatment of Culture and its people from the State.

Strong batch of US data, ECB gives little away

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Strong batch of US data, ECB gives little away

The US economy is performing well, with GDP data for the fourth quarter exceeding expectations. The European Central Bank (ECB) has left interest rates on hold at 4% and has not provided clear guidance on when rates will start falling. The euro has drifted lower after the ECB press conference and US data, but it has not broken out of its recent trading range.

Calls for deputy minister of culture to resign

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Calls for deputy minister of culture to resign

The federation of theatre institutions is calling for the resignation of the deputy minister of culture and her permanent secretary. They claim that the Thymeli 2024 funding scheme has been destructive to the arts and has led to the suspension of activities by the oldest theatre groups in Cyprus. The federation has written to the president but has not received a response. The deputy ministry has stated that they understand the need for more support for the theatre sector and are working towards it. The ministry has allocated an increased amount of funding for professional theatrical productions in the first half of next year.

Calls for deputy minister of culture to resign

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Calls for deputy minister of culture to resign

The federation of theatre institutions is calling for the resignation of the deputy minister of culture and her permanent secretary due to the negative impact of the Thymeli 2024 funding scheme on the arts. The federation warns that theaters are at risk of closing and artists will be left homeless. The deputy ministry plans to put the funding issues to public consultation in February. The ministry claims to be working towards supporting the theater sector with the resources available. The federation had previously warned that the funding scheme would be destructive for the theater community. The ministry states that there has been a 15% increase in funding for professional theatrical productions compared to the previous year.

Calls for deputy minister of culture to resign

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Calls for deputy minister of culture to resign

The federation of theatre institutions is calling for the resignation of the deputy minister of culture and her permanent secretary due to issues with the Thymeli 2024 funding scheme. The federation warns that theaters are at risk of closing and artists will be left homeless. The deputy ministry plans to put the funding issues to public consultation in February. The ministry claims to be working towards supporting the theater sector with the resources available. The federation had previously warned that the funding plan would be destructive, but the ministry implemented it anyway. The ministry states that there has been a 15% increase in funding for professional theatrical productions for the first half of next year compared to the corresponding period in 2023.

Theatres announce suspension of operation over funding dispute

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Theatres announce suspension of operation over funding dispute

Theatrical groups in Cyprus have suspended all activities and are calling for immediate intervention from the President of the Republic. They are also demanding the resignation of the Deputy Minister and the Director-General of the Ministry of Culture to prevent the dissolution of professional theatre. The Federation of Theatre Organizations in Cyprus believes that the results of the “Thymeli Plan” will lead to unemployment for theatres and theatre professionals. The theatres have published an open letter to the President expressing their disagreement with the plan and stating that their previous letter received no response. They are requesting the President’s intervention to resolve the financial problems and ensure the uninterrupted operation of the theatres. The Ministry of Culture’s persistence in implementing the plan has led to the matter being taken to the Parliament’s Education Committee. The theatres reluctantly submitted their applications, but the results have now caused unemployment for theatres and theatre workers. Theatrical organizations must inform the Ministry whether they accept or reject sponsorship by January 22, 2024.

Job vacancies are a threat – Business staffing is a challenge in the new year

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Job vacancies are a threat - Business staffing is a challenge in the new year

Cypriots and generally community members refuse to fill the gaps in the Cypriot labor market. The unemployment rate is at 5.8% in the third quarter, with 28,504 unemployed individuals. There are thousands of job vacancies, particularly in sectors such as tourism, hospitality, agriculture, and construction. The lack of investment by Cypriot businesses in increasing productivity is also a problem. The abolition of the favorable employment status for asylum seekers will create a significant gap in the labor market, as approximately 15,000 asylum seekers are currently employed. The government has promised to address this issue and simplify the process for hiring workers from third countries. They are also considering bilateral agreements with countries like India, Moldova, and Georgia for organized labor migration.