Employment Growth in Cyprus: Q1 2025 Sees 1.5% Upswing Amid Key Sector Advances

New economic data underscores persistent growth in Cyprus as employment in the first quarter of 2025 rose 1.5% compared to the same period in 2024. The Cyprus Statistical Service (Cystat) confirmed a total workforce of 497,343, including 444,635 employees and 52,708 self-employed professionals, highlighting robust labor market fundamentals.

Detailed Employment Trends

The rising employment figures point to an adaptive labor market that sustains both traditional and innovative roles. This balanced growth reflects strategic economic initiatives in diversifying and strengthening labor practices across the island.

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Sectoral Performance Driving Growth

The upswing was most notable in the arts, entertainment and recreation; manufacturing; information and communication; and construction sectors. Not only did these industries register significant employment gains, but actual hours worked also increased by 1.9%, reaching 230,173 thousand. The concentrated performance across these sectors signifies a deliberate rebalancing and modernization of Cyprus’s economic profile.

Improved Unemployment Metrics

Further affirming the positive trend, President Nikos Christodoulides reported a reduction in absolute unemployment figures by 2,025, with a steep 37% drop in youth unemployment, now at 9.9%. Labour Minister Yiannis Panayiotou added that the unemployment rate fell to 3.7% in April—a 27.5% year-on-year decline—thereby positioning Cyprus as having the third lowest unemployment rate within the Eurozone. Notably, May 2025 marked the first time youth unemployment dipped below 1,000, signaling a pivotal shift in the employment landscape.

The convergence of these indicators points to a coordinated effort by policymakers and industry leaders, setting the stage for continued economic resilience and investor confidence in Cyprus.

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One In Three Cypriots Open To Using Digital Euro

by News Editor

August 19, 2026

Around one in three Cypriots say they would use the digital euro in their daily lives, despite limited awareness of the new form of money, according to the first islandwide survey published by the Central Bank of Cyprus.

With the first issuance currently expected in 2029, the findings suggest that public education will be crucial, particularly among people who rely more heavily on cash or have less experience with digital tools.

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Awareness Remains Low

Some 61% of respondents say they have no knowledge of the digital euro, while just 1% consider themselves fully informed.

Awareness is higher among people under 65, those with tertiary education and employed respondents. Among those who have heard of the digital euro, awareness is also more common among men, higher-income and more highly educated people, as well as urban residents.

Social media is the leading source of information, cited by 49% of respondents, followed by television at 30%.

35% Would Use The Digital Euro

Despite the knowledge gap, 35% say they are willing to use the digital euro in their daily lives. This is particularly true among people under 45, employed respondents and those with higher education and incomes.

Among potential users, 41% would use it for purchases in physical shops, 40% for online shopping and 33% for person-to-person payments.

By comparison, 28% say they are somewhat or very unlikely to use the digital euro.

Privacy And Cash Are Main Concerns

The biggest concerns are the possibility of transactions being tracked and fears that cash could eventually be abolished, cited by 53% of respondents.

Another 38% are concerned about security, while 25% worry about managing their spending. Some 30% have significant concerns about the ease of using the digital euro.

For businesses, 9% say their willingness to accept digital euro payments would depend on factors such as cost, ease of implementation and demand, while 27% say they would not accept such payments.

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