Human resources development authority report on Cyprus labor market trends 2018-2024

The Human Resource Development Authority (AnAD) of Cyprus published a study analyzing labor market trends between 2018 and 2024. The data shows that the employment rate for the population aged 20-64 remained consistently above the European Union average throughout this period. Employment rose from 73.9% in 2018 to 75.8% in 2019, before declining to 75.2% in 2020 due to the COVID-19 pandemic. Following the resumption of business activity and government support measures, the employment rate recovered to reach 79.8% in 2024. Employment levels are noted to be higher among men and the 25-54 age group. The unemployment rate for those aged 15 and over decreased from 7.1% in 2021 to 4.9% in 2024. In 2024, unemployment affected women at a rate of 5.1% compared to 4.6% for men, while youth aged 15-24 faced a 13.0% unemployment rate. Furthermore, the report indicates an upward trend in participation in education and training for individuals aged 25-64 starting from 2020.