After a devastating financial and economic crisis, Cyprus is showing promise with the improvement of its labor market.
According to Eurostat, the rate of unemployment has dropped to being the lowest in the last fifteen years.
The rate fell to 4.9% from 2023’s 5.8% – making it the lowest ever since the levels of 2009. This also puts Cyprus under the current 5.9% EU-wide average rate of unemployment.
Specifically, long-term unemployment (i.e. when a person has been unemployed for more than one year) went down to 1.3% – compared to 0.6% recorded in 2009.
Unemployment of those under 25 years of age has gone down to 13%, which shows an improving job market for the youth.
The European Union at large has also seen improvement in this regard – especially with long-term unemployment, which has gone down to 1.9%—Cyprus’ recovery stands out.
This positive development is being attributed to recent improvements in the tertiary and tourism sectors, increased foreign investments and government-sponsored programs for continued education.
https://greekcitytimes.com/2025/05/28/cyprus-jobless-rate-hits-15-year-low/
