Robust Increase In Employment
Cyprus recorded a notable 1.8 per cent rise in employment in the second quarter of 2025 compared to the same period in 2024. Provisional figures from the Statistical Service (Cystat) indicate that total employment reached 508,291, comprising 455,484 employees and 52,807 self-employed individuals. Key sectors driving this expansion include information and communication, wholesale and retail trade, and accommodation and food service activities.
Operational Hours Surge
The economic momentum was further underscored by a 2.2 per cent year-on-year increase in actual hours worked, totaling 236,196. This growth in labor input was predominantly concentrated in the same sectors that experienced significant employment gains, highlighting their critical role in the local economy.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
Rising Earnings Signal Economic Resilience
In addition to employment gains, Cyprus observed a 5.4 per cent increase in average gross monthly earnings in the first quarter of 2025. Earnings climbed to €2,509 from €2,382 a year earlier, with seasonally adjusted data reflecting a 1.4 per cent rise from the fourth quarter of 2024. Male employees averaged €2,689 while female employees averaged €2,284, marking annual increases of 5.2 per cent and 5.5 per cent respectively.
Labour Market Stability Amid Fluctuating Unemployment
Despite two consecutive monthly increases in registered unemployment—rising to 11,556 by the end of August 2025 with a seasonally adjusted figure of 10,225—the overall unemployment rate declined by 4.3 per cent compared with August 2024. Further reinforcing this trend, Eurostat data placed Cyprus’ jobless rate at 5 per cent in July, comfortably below the euro area average of 6.2 per cent.
