Cyprus unemployment rate drops to 3.1 percent in May 2026

According to Eurostat data released on Thursday, Cyprus' seasonally adjusted unemployment rate fell to 3.1 percent in May 2026, down from 3.2 percent in April and 3.3 percent in March 2026. This figure marks a significant decrease from the 4.5 percent recorded in May 2025. The estimated number of unemployed individuals in Cyprus stood at approximately 16,000 in May 2026, compared to 17,000 in the previous month and 24,000 a year prior. Across the European Union, the unemployment rate remained stable at 5.9 percent in May 2026, while the euro area rate held at 6.2 percent. Total unemployment in the EU reached 13.163 million, with 10.986 million recorded in the euro area. Compared to April, the number of unemployed fell by 40,000 across the EU and by 55,000 in the euro area. Bulgaria and the Czech Republic reported lower rates at 2.9 percent, while Poland matched Cyprus at 3.1 percent. Greece reported a decrease in its unemployment rate to 8.1 percent from 9.1 percent. Youth unemployment in Cyprus was last recorded at 12.5 percent in March 2026, with no updated data available for May.