Cyprus Jobless Rate Declines as Eurozone Sees Slight Monthly Rise, Eurostat Reports

Cyprus registered a further drop in unemployment in February 2026, even as joblessness across the euro area edged higher on a monthly basis, according to newly released data from Eurostat.

The figures showed that Cyprus’ unemployment rate fell to 4.20 per cent in February 2026, compared with 4.50 per cent in the same month a year earlier, highlighting continued strengthening in the country’s labour market. In absolute terms, the number of unemployed individuals declined to around 22,000, down from approximately 23,000 in February 2025.

Across the euro area, the seasonally adjusted unemployment rate stood at 6.20 per cent in February 2026. This marked a slight increase from 6.10 per cent in January 2026, although it represented an improvement compared with 6.30 per cent recorded in February of the previous year.

For the European Union as a whole, unemployment was measured at 5.90 per cent in February 2026, unchanged from the previous month and marginally lower than the 6.00 per cent recorded a year earlier.

Eurostat estimated that total unemployment across the EU reached approximately 13,118,000 people in February 2026, including 10,919,000 within the euro area. Compared with January 2026, the number of unemployed rose by 137,000 across the EU and by 93,000 in the euro area, signalling a short-term weakening in labour market conditions.

However, on an annual basis, the broader trend remained more positive. Unemployment declined by 18,000 in the EU and by 124,000 in the euro area compared with February 2025, indicating gradual year-on-year improvement despite recent monthly fluctuations.

The data underscores Cyprus’ relatively strong performance compared with wider European trends, even as labour markets across the bloc continue to experience periodic volatility.

Youth unemployment remained notably elevated. In February 2026, there were approximately 2,957,000 unemployed individuals under the age of 25 in the EU, including 2,373,000 in the euro area. The youth unemployment rate in the EU rose slightly to 15.30 per cent from 15.20 per cent in January, while in the euro area it held steady at 14.90 per cent.

Month-on-month, youth unemployment increased by 18,000 in the EU and by 5,000 in the euro area. On a yearly basis, the figures showed mixed developments, with an increase of 5,000 in the EU but a decline of 8,000 in the euro area.

The report also highlighted gender disparities in unemployment. In the EU, the unemployment rate for women rose to 6.10 per cent in February 2026 from 6.00 per cent the previous month, while the rate for men remained unchanged at 5.70 per cent. In the euro area, female unemployment increased to 6.40 per cent from 6.30 per cent in January 2026, whereas the male unemployment rate held steady at 6.00 per cent.

Despite the slight monthly increase in euro area unemployment, the overall trajectory points toward gradual stabilisation. Cyprus, meanwhile, continues to demonstrate resilience, maintaining a comparatively robust position within the broader European labour market landscape.

By fLEXI tEAM