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Cyprus

Cyprus has a small, predominantly service-based economy, with tourism, financial services and shipping all counting amongst its important sectors. The small country initially withstood the economic crisis that began in 2008 relatively well, but experienced a major economic downturn in 2012. Employment rates dropped in almost all sectors, notably in manufacturing and construction between 2008 and 2013. The unemployment rate remains well above the EU average.

Looking to the future, employment is projected to continue grow over the period to 2025 but is expected to remain below its pre-2008 financial crisis levels. Most employment growth will be in distribution and transport, and most job opportunities will open in elementary occupations. Cyprus is forecast to experience an increase in demand for high- and low-skilled workers, whilst demand for medium-skilled workers will decrease. Over the same period, the share of Cyprus’ labour force with high level qualifications is projected to increase, whilst the share of workers with medium, low or no qualifications is set to decrease.

Cyprus’ working-age population (15-64) is forecast to increase in the medium-term future, with labour market participation remaining at the same level, above the projected EU average. Looking to the longer-term future, Cyprus’ old-age dependency ratio is expected to remain consistently below than the EU28 average. 

Future employment growth (in %) in Cyprus in 2015-2025 across sectors

Source:Cedefop
Indicator:Future employment growth

Projected changes in employment to 2025 (this indicator contains overall percentage change).

Key facts

SIZE OF EMPLOYMENT

Source:Eurostat
Indicator:Employment rate

The employment rate indicates the percentage of people in employment over the population aged 20-64.

 

In 2015 the employment rate in Cyprus was 67.94% compared to 70.00% in EU

RECENT HISTORY

Source:Eurostat
Indicator:Employed population by sector

It shows the total number of employed population, of any age, broken down by sector.

During the period 2011-2015 the size of employment in Cyprus changed by -10.05% compared to 2.07% in EU .

TOP PERFORMERS

Source:Eurostat
Indicator:Employed population by sector

It shows the total number of employed population, of any age, broken down by sector.

Sectors with the largest share in employment in Cyprus in 2015 

  • Wholesale & retail trade 18.67%
  • Arts, recreation, and other activities 9.92%
  • Accommodation & food service activities 8.18% 
  • Public administration & defence 8.08%
  • Education 7.98% 

TOP PERFORMERS

Source:Eurostat
Indicator:Employed population by sector

It shows the total number of employed population, of any age, broken down by sector.

Occupations with the largest share in employment in Cyprus in 2015:  

  • Business & administration assoc. prof. 9.48%
  • Sales workers 9.01%
  • Cleaners and helpers 8.60% 
  • Teaching professionals 6.39%
  • Personal service workers 6.34%

TOP PERFORMERS

Source:Cedefop
Indicator:Future employment growth

Projected changes in employment to 2025 (this indicator contains overall percentage change).

Sectors expected to have the strongest employment change over the period 2015-2025 in Cyprus:

  • Human health & social work activities 36.43%
  • Accommodation & food service activities 32.50%
  • Education 28.68% 
  • Administrative & support activities 28.32% 
  • Wholesale & retail trade 26.52% 

LOOKING INTO THE FUTURE

Source:Cedefop
Indicator:Future employment needs

The additional number of people who will be required to work in an occupation given projected changes in employment and replacement demands. 

Occupations expected to have the largest numbers of job openings in Cyprus over the period 2015-2025:

  • Cleaners and helpers 21,927
  • Sales workers 20,656
  • Business & administration assoc. prof. 17,237
  • Personal service workers 10,882
  • Business & administration professionals 9,032

Featured indicator

Related indicators

Employment share of occupations (%) in Cyprus (2011-2015 comparison)

Source:Eurostat
Indicator:Employed population

Shows the total number of employed people of any age.

 

Education profile (%) of the working age population in Cyprus (2011-2015 comparison)

Source:Eurostat
Indicator:Working-age population

Measures the total number of people of working age (i.e. 15-64).

 

Age profile (%) of the working age population in Cyprus (2011-2015 comparison)

Source:Eurostat
Indicator:Working-age population

Measures the total number of people of working age (i.e. 15-64).

 

Future employment growth (% change) across occupations in Cyprus compared to EU in 2015-2025

Source:Cedefop
Indicator:Future employment growth

Projected changes in employment to 2025 (this indicator contains overall percentage change).

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