Irish unemployment at lowest rate for five years

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Unemployment in Ireland has dropped by 10,400 in just three months, seeing the jobless rate at its lowest figure in five years.

The Central Statistics Office in Ireland have today released their quarterly national household survey which shows that national employment has dropped from 11.5 per cent in June to 11.1 per cent in October.

This showed an annual increase in employment of 1.5 per cent or 27,700 in the year to the third quarter of 2014, bringing total employment to 1,926,900.

Unemployment decreased by 37,400 (-13.2 per cent) in the year to Q3 2014 bringing the total number of persons unemployed to 245,500.

However, continued emigration and a decrease in people moving to Ireland has seen a dive in numbers in the labour force, which fell by 9,700 in the past year.

The CSO noted that the “negative demographic effect” – or population fall – is “excessively concentrated” in the 20-24 and 25-34 age groups.


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