Unemployment in 2024 reached lowest level since 2009 - in both Cyprus and EU

08:25 - 27 May 2025

Economy

Unemployment in Cyprus and the EU dropped in 2024 according to Eurostat, in both cases reaching their lowest levels since 2009.

Meanwhile, long-term unemployment was the lowest recorded in the EU and the second lowest recorded in Cyprus.

More specifically, in 2024, the unemployment rate for 15 - 74 years old in Cyprus fell to 4.9% (from 5.8% in 2023), while in the EU it fell to 5.9% of the labour force (from 6.1% in 2023).

The long-term unemployment rate in Cyprus, as a percentage of the labour force, dropped to 1.3% in 2024 from 1.8% in 2023 (the lowest share had been recorded in 2009 at 0.6%). In the EU, the rate dropped to 1.9% from 2.1% in 2023.

Among member states, Greece recorded the highest long-term unemployment rate, at 5.4%, followed by Spain (3.8%) and Slovakia (3.5%). By contrast, the Netherlands (0.5%), Malta (0.7%), and Czechia, Denmark and Poland (all at 0.8%) had the lowest rates.

Regarding young people aged 15 to 24 years, the unemployment rate in the EU was 14.9%, up 0.4 percentage points (pp) compared with 2023.

In Cyprus, this percentage stood at 13.0% in 2024, having dropped by 3.6 pp compared to 2023.

For other age groups, the unemployment rates in the EU were much lower in 2024 and slightly declining compared with the previous year, while the drop was more noticeable in Cyprus.

For those aged 25 - 54, the unemployment rate in the EU was 5.4%, (down 0.1 pp), while it was 4.1% for those aged 55 - 74 (down 0.2 pp).

For those aged 25 - 54 in Cyprus, the unemployment rate in the EU was 4.7%, (down 0.6 pp), while it was 2.9% for those aged 55 - 74 (down 1.1 pp).

Unemployment in 2024 reached lowest level since 2009 - in both Cyprus and EU

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