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Cyprus Registered Unemployment Climbs 9.9% In June

by THEFUTURE.TEAM

July 3, 2026

Cyprus recorded another increase in registered unemployment in June, with the sharpest rises concentrated in public administration, education, accommodation and food services, according to figures released by the Statistical Service (Cystat).

The number of people registered as unemployed at district labour offices reached 10,056 at the end of June, up from 9,153 a year earlier. That represents an increase of 903 people, or 9.9%.

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Seasonal Factors Mask A Gradual Rise

Compared with May, registered unemployment climbed from 7,936 to 10,056. However, the increase largely reflects seasonal patterns, particularly in education and public administration, where hiring and contract expirations typically follow the academic and administrative calendar.

Seasonally adjusted data point to a more gradual trend. Registered unemployment rose to 10,656 in June from 10,543 in May and has remained above 10,000 throughout the first half of the year, increasing steadily from 10,109 in January.

Public Administration And Education Lead The Increase

Public administration and defence recorded the largest number of registered unemployed, rising to 2,306 from 2,171 a year earlier and 706 in May.

Education also saw a marked increase, with unemployment reaching 1,004 compared with 895 in June 2025 and just 290 in May, reflecting the seasonal end of the academic year.

Accommodation and food services recorded 934 registered unemployed, up from 762 a year earlier but below May’s level of 1,177, while wholesale and retail trade stood at 1,362, slightly above the 1,297 recorded a year earlier.

Pressure Extends Across Service Industries

Several other sectors also reported annual increases. Professional, scientific and technical activities recorded 813 registered unemployed, broadly unchanged from May but above last year’s level of 743.

Information and communication rose to 479 from 412 a year earlier, while human health and social work increased to 329 from 256. Manufacturing also remained above last year’s level, with 471 registered unemployed compared with 402 in June 2025.

Financial and insurance activities, transportation and storage, real estate, arts and entertainment, other service activities and extra-territorial organisations also recorded annual increases.

Construction was one of the few larger sectors to buck the trend, with registered unemployment falling to 366 from 401 a year earlier, while agriculture, forestry and fishing, water supply and waste management, and electricity and gas also recorded lower unemployment than in June 2025.

Cystat said the figures cover people aged 15 and over who are registered with district and local labour offices, are available for work and are actively seeking employment.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.