Analyzing the Decline in Cyprus’ Unemployment Rate
The latest data reveal a notable shift in Cyprus’ employment landscape, with the number of registered unemployed persons standing at 7,378 as of May 2025, as reported by the Cyprus Statistical Service (Cystat).
Upon examining seasonally adjusted figures, registered unemployment showed a minor dip to 9,708 individuals, down from 9,729 in April. This represents a year-on-year decrease of 781 individuals, an impressive fall of 9.6% since May 2024.
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Sector-Specific Improvements Highlighted
Key sectors such as financial and insurance activities, construction, education, and manufacturing played a crucial role in this decline. Specifically, manufacturing saw a reduction from 537 unemployed in May 2024 to 458 by May 2025.
Within construction, unemployment figures dropped from 555 to 426, while the education sector experienced a notable decline from 373 to 263, and the financial and insurance sectors reduced from 574 to 405.
Meanwhile, sectors like public administration saw a rise in unemployed numbers from 600 to 658, echoing similar trends in information and communication, which went up from 392 to 416.
Decline Among New Entrants to the Workforce
Newcomers to the labor market also reported a significant reduction, from 509 in May 2024 to 297 in May 2025, aligning with ongoing trends of improving unemployment rates throughout the year.
Starting in January with a registered unemployment figure of 13,147, the adjusted numbers fell to 10,343. By the end of May, real momentum was evident with a nearly 5,800 individual reduction.
