unemployment rate

Unemployment rate in Cyprus drops to 6 per cent

The unemployment rate in Cyprus has dropped to 6% in the first quarter of 2024, with 490,232 individuals employed, showcasing a strong economic recovery. The workforce participation rate is approximately 64.5%, reflecting a resilient labor market in Cyprus.

Cyprus Unemployment Rate Drops to 5.9 Percent in Fourth Quarter of 2023

By Demis Papadopoulos

Cyprus’ unemployment rate plummeted to 5.9% in the fourth quarter of 2023, marking a significant improvement from the previous year. This decline, especially noticeable in the 2564 age group, reflects a promising downward trend in joblessness in the country.