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EU Unemployment Reaches Historic Lows, Long-Term and Youth Rates Show Significant Improvement

by THEFUTURE.TEAM

November 11, 2024

According to the latest data from Eurostat, unemployment across the European Union has fallen to its lowest levels in recent history. The statistics reveal a decline in the number of people out of work, with only a little over 6% of the working-age population currently unemployed.

Key Statistics

Overall Unemployment: In 2023, the EU’s unemployment rate for those aged 15-74 stands at 6.1%, the lowest since 2014.
Long-Term Unemployment: The rate of long-term unemployment, measuring those out of work for over a year, has also hit a new low, at 2.1% of the labour force in 2023.
Highest Long-Term Unemployment: Greece reports the highest long-term unemployment rate within the EU at 6.2%, followed by Spain at 4.3% and Italy at 4.2%.
Lowest Long-Term Unemployment: Denmark and the Netherlands report the lowest rates, both at 0.5%.

Youth Unemployment at Record Low

Youth unemployment, defined as those aged 15-29, has also dropped to a record low of 6.3% in 2023, marking a continuing downward trend. However, disparities between countries are noticeable:

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Highest Youth Unemployment: Sweden has the highest youth unemployment rate in the EU at 10.9%, closely followed by Spain (10.8%) and Greece (9.8%).
Lowest Youth Unemployment: The Czech Republic leads with the lowest rate at 2.4%, with Bulgaria (3.2%) and Germany (3.3%) close behind.

This data highlights significant strides in labour market recovery and stability across the EU, although variances remain between member states. Countries like Greece and Spain continue to experience challenges, particularly in reducing long-term and youth unemployment rates. However, the overall trend points to a stronger labour market, with more EU citizens gaining employment and fewer experiencing prolonged joblessness.

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Cyprus Economy Outperforms EU Benchmarks With 4.5% Quarterly Growth

by THEFUTURE.TEAM

February 16, 2026

The Cypriot economy recorded an impressive 4.5% year-on-year growth in the fourth quarter of 2025, according to preliminary estimates from the Statistical Service. This performance represents a notable acceleration, with a seasonally adjusted quarterly increase of 1.4% compared to the previous period.

Quarterly Performance Surpasses Expectations

Based on Eurostat data, Cyprus has significantly outpaced its European counterparts. While the Eurozone achieved an average growth rate of 1.3% and the European Union registered 1.5%, Cyprus clearly outperformed both. Such robust quarterly performance underlines the nation’s strategic economic positioning amid global market uncertainties.

Full-Year Projections And Fiscal Discipline

For the entire year 2025, growth is forecasted at 3.75%, exceeding earlier predictions from the Ministry of Finance and several domestic and international agencies, which had estimated an increase between 2.9% and 3.5%. This optimistic projection is supported by a low inflation environment and conditions of near-full employment.

Sustainable Growth Amid Global Uncertainty

Despite increased international volatility, Cyprus continues to demonstrate a resilient economic dynamic. Experts assert that a commitment to prudent and disciplined fiscal policies will bolster the nation’s ability to maintain medium-term growth rates above 3%. This strategic approach offers a strong competitive edge, much like other success stories in high-growth markets where sound economic management has proven vital.