Nicosia: Cyprus has achieved a significant milestone by ranking first among EU Member States in reducing youth unemployment, as reported by the Ministry of Labour.
According to Cyprus News Agency, Eurostat data highlights the Republic of Cyprus’s impressive performance in lowering unemployment rates among individuals under 25 years old. In March 2023, the youth unemployment rate stood at 16.1%, which decreased to 9.9% by December 2024. This marks the lowest rate since 2008 and represents a 6.2 percentage point drop, equivalent to a 38.5% reduction.
The Ministry of Labour emphasized that achieving full employment conditions positively impacts citizens’ daily lives. The notable reduction in youth unemployment is seen as fostering optimistic prospects for the new generation entering the labour market.