Yiannis Panayiotou

Cyprus is making moves to boost its workforce and fill gaps in key sectors with new policies that give both skilled professionals and foreign students more opportunities.

Labor Minister Yiannis Panayiotou has just issued decrees that make it easier for highly qualified workers from outside the European Union to find jobs and give foreign students better access to part-time work.

The Cypriot labor market has achieved its strongest performance in the past 15 years in 2024, driven by increased job creation, employment growth, reduced unemployment, and rising wages.

The accord forged by the Cypriot Ministry of Labor alongside employer and trade union representatives to tackle workforce shortages, especially prevalent during the summer months, seems poised to confront a long-standing challenge head-on.

Last Friday, in the presence of Labor and Social Insurance Minister Yiannis Panayiotou, Cyprus' social partners (trade unions and employers) signed a new transitional agreement on the Cost-of-Living Adjustment (CoLA), stipulating an increased allowance of 66.7% of last year's inflation from the previous 50%.