Cyprus unemployment rate hits lowest level since 2008

The unemployment rate in Cyprus declined to 3.6% in the second quarter of 2026, marking its lowest point since the fourth quarter of 2008. According to the Statistical Service, the number of unemployed individuals fell to 19,367, down from 22,663 in the same period of 2025. The labor force increased to 540,130 people, representing 65.6% of the population, while the total number of employed persons rose to 520,763.

Among youth aged 15-24, the unemployment rate dropped significantly to 12.2% from 14.9% a year prior. Regarding the duration of unemployment, 62.4% of job seekers have been looking for work for less than six months, while 21.1% are classified as long-term unemployed. Employment rates for the 20-64 age group reached 82.8%, showing an increase compared to the 81.7% recorded in the second quarter of 2025.