Newsroom
Unemployment in Cyprus ticked up slightly in January 2025, reaching 5.0%, compared to 4.9% the previous month, according to new data from Eurostat. Despite the monthly rise, the overall trend remains positive, with unemployment lower than the 5.3% recorded in January 2024.
While the increase may raise concerns, Cyprus still boasts a lower unemployment rate than both the eurozone (6.2%) and the EU as a whole (5.8%), where joblessness remained stable compared to December 2024.
According to estimates, 26,000 people in Cyprus were unemployed in January, up by about 1,000 compared to December but down by the same amount from a year ago. This suggests a labor market that is fluctuating slightly but overall improving over time.
Women and Young Workers See Higher Unemployment
The data also reveals some disparities between different groups. The unemployment rate for women in Cyprus was 5.5%, while for men, it was lower at 4.6%. Both figures represent slight increases.
Youth unemployment remains a concern, but there’s good news—while recent monthly data isn’t available, the last recorded figures from December 2024 show youth unemployment at 9.9%, a significant drop from 15.7% in January 2024.
Despite the minor increase, Cyprus remains in a stronger position compared to many European counterparts. However, as economic uncertainty looms, maintaining job growth and ensuring opportunities for young workers will be crucial to keeping unemployment in check.
