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Cyprus Unemployment Declines 9.6% in May 2025: A Closer Look

by News Editor

June 4, 2025

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.

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Greek Tankers Transit Hormuz As Shipping Risks Rise In Gulf And Black Sea

by THEFUTURE.TEAM

March 16, 2026

Two tankers linked to George Prokopiou passed through the Strait of Hormuz as regional tensions continue to affect shipping routes in the Gulf.

Safe Passage Through Hormuz

The tanker Smyrni, operated by Dynacom Tankers Management, was observed off the coast of Mumbai on Saturday morning after its earlier positioning in the Persian Gulf. The vessel, like its predecessor Shenlong, temporarily disabled its transponder during transit, a common practice in these narrow channels under uncertain conditions.

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Robust Market Commitments

Despite reduced shipping traffic through the strait, Dynacom has continued expanding its fleet. The company recently ordered four additional VLCC tankers from Hengli Heavy Industry. Each vessel will have a capacity of 300,000 deadweight tonnes. With the new order, Dynacom’s VLCC program in Chinese shipyards now totals 16 vessels.

Security Incident In The Black Sea

In a separate incident, the Greek-flagged tanker Maran Homer sustained minor damage near Novorossiysk in the Black Sea. The vessel is operated by Maran Tankers Management, part of the shipping group controlled by Maria Angelicoussis.

Reports indicated the ship was struck by a missile or drone about 14 nautical miles from the port. The crew of 24, including Greek, Filipino and Romanian sailors, was not injured. The vessel, which was not carrying cargo, continued sailing under its own power.