Unemployment rate remains unchanged at 5.1%

Marita Moloney

The unemployment rate remains at 5.1% for July and is unchanged from June.

According to figures released by the Central Statistics Office (CS0) today, approximately 200 workers entered employment in July, leaving the number of people unemployed nationwide at 120,500.

The unemployment rate has dropped by 1.7% in the last 12 months, and stood at 6.% in July 2017.

In its latest quarterly bulletin, the Central Bank forecasts that the unemployment rate will average at 5.4% for 2018 and 4.8% in 2019, which would be the lowest percentage since January 2007.

In the last decade, the rate of unemployment hit its peak in January and February 2012 as the economy suffered from austerity measures, and the banking and housing sectors continued to struggle with recovery.

The Central Bank predicts that employment growth will gradually moderate in the coming years and that while labour market indications show that the economy is heading towards full employment, capacity is set to tighten.

The bank warned that as we approach full employment, the "the risk remains that the continued strong expansion of the economy could give rise to overheating."

Related Articles

Country could face worker shortage as unemployment levels continue to drop

Apprentice fund call for jobless youths

Access to apprenticeships can halve youth uneployment by end of 2019 say NYCI

Unemployment rate falls to 5.1%; Lowest level since 2007

More in this Section

Inquest calls for rollout of roadcheck devices after jogger killed in hit-and-run by disqualified driver

'The least he can do is apologise,' says clerical sex abuse victim ahead of Papal visit

Hospital interns asked to perform duties they aren't qualified for, report finds

Former NI police watchdog calls for public inquiry into Omagh bomb

Today's Stories

Paralysedman was attacked as he slept in camper


New father’s life ‘changed forever’ after he was run over by surgeon

More From The Irish Examiner