Cyprus unemployment drops to fifth lowest in EU at 3.6%

Cyprus recorded the EU's fifth lowest unemployment rate in May at 3.6%, down from 3.7% in April and 4.8% in May 2024, according to Eurostat.

The number of unemployed remained unchanged compared to April, while in May last year it was significantly higher. By gender, the unemployment rate in Cyprus was 4.4% for women and 3% for men.

The seasonally adjusted unemployment rate in Cyprus is lower than the corresponding rates in both the euro area and the EU and ranks as the fifth lowest in the bloc.

In May 2025, the unemployment rate in the euro area stood at 6.3%, up slightly from 6.2% in April, but lower than 6.4% in May last year.

In the EU as a whole, the rate was 5.9%, stable month-on-month and down from 6% a year earlier.

Eurostat estimates that unemployment increased compared to April in both the EU and the euro area, but decreased on an annual basis.

Among EU countries, Spain recorded the highest overall seasonally adjusted unemployment rate at 10.8%, while Malta had the lowest at 2.7%.

In terms of youth unemployment, an estimated 14.8% of people under the age of 25 were unemployed in the EU in May 2025, and 14.4% in the euro area, both slightly up from the previous month.

In Cyprus, the youth unemployment rate stood at 9.9%, based on the latest available figures.

The highest youth unemployment rate in the EU was recorded in Spain at 25.4% and Estonia at 20.7%, while the lowest was in Malta at 5.9%.

Compared with April, youth unemployment rose across both the EU and the euro area, though on an annual basis, it declined in the euro area and rose slightly in the EU.

Regarding unemployment by gender, the EU unemployment rate for women stood at 6.1%, and at 6.5% in the euro area.

For men, the rate was 5.7% in the EU and 6.1% in the euro area.

The highest female unemployment rate was observed in Spain, 12.1%, and Greece at 9.8%, while the lowest again was in Malta, at 2.6%.