According to Eurostat, the seasonally-adjusted unemployment rate in Cyprus held steady at 6.6% in August, mirroring July's figure. This rate represents a slight decrease from 6.8% in August 2022.

While Cyprus' numbers remained stable, the broader eurozone reported a slight decrease in unemployment. The rate dropped to 6.4% in August 2023, down from 6.5% in July and 6.7% the previous year in the same month. Across the entire European Union, the unemployment rate decreased to 5.9% in August 2023, a 0.1% reduction from July and a 0.2% reduction year-on-year.

Delving deeper into the numbers, Eurostat estimates that 12.837 million individuals were unemployed in the EU as of August 2023. The eurozone accounted for 10.856 million of these individuals. From July 2023, this marks a decrease of 112,000 individuals in the EU and a reduction of 107,000 in the eurozone. Year-on-year, the EU and the eurozone have seen reductions in unemployment by 335,000 and 407,000 respectively.

In Cyprus specifically, the unemployment count in August stood firm at 33,000, unchanged from both July 2023 and August 2022.

In August, the unemployment rate among women in the EU was stable at 6.2%, mirroring July's statistics. Meanwhile, the rate for men was 5.7%, also consistent with the previous month's figure.

Within the eurozone, the unemployment rate for women slightly decreased to 6.7% in August 2023, from 6.8% in July. For men, it declined to 6.1% from 6.2% in July.

In Cyprus, women's unemployment rate stood at 7.2%, while men's rate at 6.2%.

August 2023 saw 2.687 million unemployed individuals under the age of 25 in the EU, with 2.194 million of them in the eurozone. Youth unemployment rates remained at 14.0% for the EU and decreased slightly to 13.8% for the eurozone from 13.9% in July.

Month-on-month, youth unemployment decreased by 10,000 in the EU and by 24,000 in the eurozone. Year-on-year, these figures dropped by 141,000 and 145,000 respectively in the EU and eurozone.

Cyprus did not provide updated data on youth unemployment for August 2023, as the country releases this data on a quarterly basis.