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Cyprus Achieves Record Low Unemployment at 4.9%

5/28/2025

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Summary

Story summary

In 2024, Cyprus celebrated a remarkable decline in unemployment, hitting 4.9%—the lowest since 2009 and better than the EU's 5.9% average. Long-term unemployment plummeted to 1.3%, and youth unemployment dropped to 13%. This encouraging shift stands in stark contrast to Greece's persistent long-term unemployment rate of 5.4%.

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Story summary

In 2024, Cyprus celebrated a remarkable decline in unemployment, hitting 4.9%—the lowest since 2009 and better than the EU's 5.9% average. Long-term unemployment plummeted to 1.3%, and youth unemployment dropped to 13%. This encouraging shift stands in stark contrast to Greece's persistent long-term unemployment rate of 5.4%.