Breaking news

Promising Employment Growth In Q1 2024

by THEFUTURE.TEAM

June 10, 2024

Cyprus has experienced a notable rise in total employment in the first quarter of 2024, marking a significant annual increase of 2.2%, according to data released by the Statistical Service of Cyprus (Cystat). This uptick reflects a positive trend in the island’s economic activities, signalling robust growth and resilience amid global economic challenges.

Key Statistics and Sectoral Performance

The total number of employed individuals in Cyprus reached 474,587 in Q1 2024, up from the previous year. This total comprises 425,090 employees and 49,497 self-employed individuals. Noteworthy increases were observed in the sectors of Administrative and Supporting Service Activities, Education, and Accommodation and Food Service Activities. These sectors have demonstrated strong performance, contributing significantly to the overall employment growth.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

In addition to the rise in total employment, the actual hours worked during the first quarter also saw a commendable increase of 2.6%, totalling 217,668 thousand hours. This metric is crucial as it underscores the increased labour demand and productivity within the Cypriot economy.

Implications for the Cypriot Economy

The 2.2% annual growth in employment is a positive indicator of the Cypriot economy’s health and its ability to create jobs across various sectors. This trend is particularly significant given the broader global economic context, where many countries are grappling with economic uncertainties and sluggish growth. Cyprus’s ability to not only sustain but also enhance employment levels speaks volumes about its economic strategies and labour market policies.

The sectors leading this growth, particularly Administrative and Supporting Services, Education, and Accommodation and Food Services, are pivotal to Cyprus’s economic landscape. The robust performance in these areas suggests that the island is leveraging its strengths in service-oriented industries, which are essential for sustainable economic development.

Strategic Insights

For business professionals and entrepreneurs, these statistics offer valuable insights into the Cypriot market. The growth in Administrative and Supporting Services indicates a thriving business environment, with increased demand for professional services and corporate support functions. Similarly, the rise in employment within the Education sector highlights the importance of investing in human capital and the potential for growth in educational services and institutions.

The surge in the Accommodation and Food Service sector is indicative of Cyprus’s strong tourism industry. As a key driver of the economy, the continued expansion of this sector presents numerous opportunities for investment and business development.

The Future Forbes Realty Global Properties

Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.