The unemployment rate in Cyprus saw a decline by the close of 2024, as indicated by preliminary data released by the statistical office on Tuesday. At the district labor offices, the number of registered unemployed individuals stood at 12,382 by the end of December, compared to 13,670 during the same period in the previous year. In November, this figure was 11,087.
On a seasonally adjusted basis, the count of jobless individuals was 10,506, marking a decrease from the 11,675 recorded a year prior. This reduction in unemployment is largely attributed to the creation of more job opportunities in sectors such as financial and insurance services, construction, accommodation and food services, and professional, scientific, and technical activities. Additionally, there was a noticeable reduction in the number of newcomers entering the labor market.
