Cyprus unemployment rate rises for third month running

Cyprus’ unemployment rate rose to 4.1 per cent in August 2026, according to Eurostat data, as the jobless rate across both the European Union and euro area remained broadly stable. The Cyprus rate increased from 4.0 per cent in July and 3.9 per cent in June, after standing at 3.8 per cent in May. It remained below the EU unemployment rate of 6.1 per cent and the euro area rate of 6.4 per cent in August. Eurostat estimated that around 22,000 people were unemployed in Cyprus in August, unchanged from August 2025 and up from around 20,000 in May. The number had stood at around 21,000 in both June and July. Cyprus’ unemployment rate was 4.2 per cent in August 2025 before falling to 3.8 per cent in May 2026 and subsequently rising over the following three months. EU unemployment Across the EU, the unemployment rate was 6.1 per cent in August, unchanged from July but up from 6.0 per cent a year earlier. Eurostat estimated that around 13.600 million people were unemployed across the EU in August. This represented an increase of 12,000 from July and an increase of 348,000 compared with August 2025. In the euro area, the unemployment rate stood at 6.4 per cent in August, unchanged from July and up from 6.3 per cent a year earlier. Around 11.357 million people were unemployed in the euro area in August, an increase of 26,000 from July and 267,000 from August 2025. The euro area unemployment rate had risen from 6.3 per cent in August 2025 to 6.4 per cent in May 2026, where it remained through June, July and August. The EU rate increased from 6.0 per cent in August 2025 to 6.1 per cent in May 2026 and remained at that level through the summer. Youth unemployment Youth unemployment presented a mixed picture across the bloc. In the EU, the unemployment rate among people aged under 25 stood at 15.4 per cent in August, up from 15.3 per cent in July. The EU youth unemployment rate had risen from 15.3 per cent in August 2025 to 15.6 per cent in May and 15.7 per cent in June, before falling to 15.3 per cent in July. Eurostat estimated that around 2.973 million young people were unemployed in the EU in August, an increase of 13,000 from July and 19,000 from August 2025. In the euro area, the youth unemployment rate fell to 15.0 per cent in August from 15.1 per cent in July. The rate was 14.8 per cent in August 2025 and had reached 15.2 per cent in both May and June 2026. Around 2.391 million young people were unemployed in the euro area in August, down by 9,000 from July but up by 38,000 from a year earlier. Cyprus’ youth unemployment rate stood at 13.0 per cent in August 2025, before falling to 11.9 per cent in both May and June 2026. Eurostat estimated that around 3,000 young people were unemployed in Cyprus in both May and June, compared with around 4,000 in August 2025. Figures for Cyprus’ youth unemployment rate and the number of unemployed young people were not available for July and August 2026 in the data. Unemployment by sex Women continued to record a higher unemployment rate than men across both the EU and euro area. In the EU, the unemployment rate for women was 6.4 per cent in August, compared with 5.9 per cent for men. Both rates were unchanged from July. In the euro area, the unemployment rate for women stood at 6.7 per cent, while the rate for men was 6.2 per cent. Both euro area rates were also unchanged compared with July. The August figures therefore show Cyprus continuing to record a lower overall unemployment rate than the EU and euro area, although its rate has been gradually edging higher since reaching 3.8 per cent in May. At the same time, the latest Eurostat data show that unemployment across the wider European economy has remained relatively stable in recent months, while standing slightly higher than a year earlier.