Unemployment in Cyprus

Cyprus Unemployment | Economic News & Forecasts

Cyprus - Unemployment

Available data indicates that activity strengthened somewhat in the second quarter, after growth slowed to an over three-year low in Q1 amid a plunge in exports. Retail sales rebounded strongly in April, while the unemployment rate declined for the fourth consecutive month in May, hitting its lowest point in over eight years. This, combined with solid wage increases as of late and the sharp drop in inflation in the quarter, which should support household purchasing power, hint at private consumption growth bouncing back after cooling markedly in Q1. In addition, economic sentiment edged up in Q2 from Q1. This was mainly due to stronger confidence within the industrial sector, which could signal a recovery in industrial activity after output contracted, albeit marginally, in April. That said, the external sector remains weak, as reflected by merchandise exports nosediving in both April and May.

Cyprus - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate15.9  16.2  14.9  13.0  11.2  

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Cyprus Unemployment Chart


Cyprus Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Service.

Cyprus Facts

ValueChangeDate
Exchange Rate1.110.65 %Jul 31
Stock Market70.6-0.44 %Jul 31

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