CSO figures show 11% fall in unemployment in 12 months

CSO figures show 11% fall in unemployment in 12 months
The Central Statistics Office.

The latest figures from the Central Statistics Office show that 53,700 (2.4%) more people are in employment than this time last year.

The latest Labour Force Survey (LFS) which records data up to September 2019 also shows that the country's labour force expanded by 37,900 (1.6%) since the start of the year.

Total employment now stands at more than 2.3 million people, its highest ever level, with unemployment down 11% or 15,800 to 128,000 in the year to September 2019. The seasonally adjusted unemployment rate fell between Q2 and Q3 of this year by 4,900 to 120,000.

The financial, insurance and real estate industries made the most hires from July to September, with 13,000 people beginning to work in the sector.

Jim Dalton, CSO statistician, said: “The LFS is the official source of data for employment and unemployment in Ireland. Key findings show that in Q3 2019, employment totalled 2,326,900 and this showed an annual increase of 2.4% or 53,700 from Q3 2018.

"When adjusted for seasonal factors, employment increased by 0.8% or 17,300 between Q2 2019 and Q3 2019."

People unemployed for a year or more, long-term unemployed, account for 27.3% of the unemployment figure.

Minister for Finance and for Public Expenditure and Reform, Paschal Donohoe, said: “I am encouraged by today’s data which show the continued strength of Ireland’s labour market.

“I am particularly pleased that these figures show employment growth continuing to be spread across the regions and sectors reported by the CSO. The figures are broadly in line with my Department’s macroeconomic forecasts as published alongside Budget 2020 in October.

We are now closer to full-employment than at any time since the onset of the crisis in 2008.

"At this crucial juncture, it is imperative that economic policy supports continued growth in a sustainable way, protecting the economy against external risks while managing the risk of potential overheating. The package of measures announced in Budget 2020 will ensure that, were a disorderly UK exit from the EU to materialise, appropriate support can be provided to protect against the worst economic effects."

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