The average wage in Cyprus has increased by 13% over the past two years

The Minister of Labour and Social Insurance, Yannis Panayiotou, stated that the average wage in Cyprus has increased by 13% over the past two years, nearing €2,500; the average salary has risen by almost 11.5%, approaching €1,900; and the number of employees earning less than €1,000 has dropped by 30% over the last two years.

Panayiotou referred to the latest data published by the European Statistical Office for the first quarter of 2025 concerning unit labour costs, which, according to him, “confirm the positive dynamics of the Cypriot labour market and the effectiveness of government policy.”

According to him, based on Eurostat data, Cyprus recorded a 4.8% increase, significantly exceeding the average rise in hourly labour costs in the euro area at 3.4%, as well as the EU average of 4.1%.

At the same time, Cyprus shows a positive trend in labour cost growth compared to the same period last year, meaning growth this year surpasses last year’s, and the country is among the top six EU member states with the highest rise in hourly labour costs in Q1 2025.

The Minister also reported that a review of the national minimum wage is scheduled for January 2026, and, based on data “that we are all able to analyse and understand, the wage trend, including the minimum wage, is headed in a positive direction.”