Unemployment in Cyprus dropped to 4.4% in November 2024, down from 4.5% in October and 5.6% in November 2023, according to data released by Eurostat, the European Union's statistical agency. Cyprus's unemployment rate remains well below the eurozone average of 6.3% and the EU average of 5.9%.

In the eurozone, unemployment held steady at 6.3% in November, a slight decrease from 6.5% in November 2023. Similarly, the EU’s unemployment rate was stable at 5.9% in November, down from 6.1% a year earlier.

According to Eurostat estimates, there were 12.968 million unemployed individuals across the EU in November, including 10.819 million in the eurozone. Month-over-month, unemployment fell by 16,000 in the EU and 39,000 in the eurozone. Compared to November 2023, unemployment dropped by 295,000 in the EU and 333,000 in the eurozone.

In absolute terms, approximately 23,000 people were unemployed in Cyprus in November 2024, a number unchanged from October but significantly lower than the 28,000 unemployed in November 2023.

When broken down by gender, unemployment among women in Cyprus decreased to 4.1% in November from 4.3% in October. Among men, the unemployment rate remained stable at 4.7%.

Youth unemployment across the EU reached 15.3% in November, slightly up from 15.2% in October. In the eurozone, youth unemployment remained steady at 15.0%. The number of unemployed young people under 25 increased by 24,000 in the EU and 2,000 in the eurozone compared to October. Over the year, youth unemployment rose by 159,000 in the EU and 101,000 in the eurozone.

No updated monthly data for youth unemployment in Cyprus is available, as the country, along with Belgium, Croatia, Romania, and Slovenia, submits youth unemployment statistics to Eurostat on a quarterly basis.