Unemployment is steady at this level

According to the most recent statistics available from the Statistical Office, there were the same number of people listed without employment in August 2024.

Records kept by the Provincial Labour Offices show that 12,079 people were officially unemployed as of the end of August. The number, which is used to better assess the overall trend in unemployment, was 11,197 after seasonal changes were taken into account. This indicates that there was little change from the previous month.

There was a significant drop of 1,177 people, or 8.9%, from the previous year. The main reasons for this fall include lower unemployment in the manufacturing, trade, finance, and insurance industries, as well as fewer people entering the job market.

On the other hand, according to the most recent data from Eurostat, Cyprus' unemployment rate increased from 5.1% in June 2024 to 5.4% in July 2024.