Pace of job creation moderates in Q1

The employment level has reached its highest level in four years, although the pace of job creation moderated over the first three months of the year.

The latest report from the CSO show there were 1,700 jobs created in the first quarter which is a 0.1% increase in employment. Over the 12 months to the end of March, there was a total of 42,700 jobs created, which is an increase of 2.3% and brings the total employed in the State to 1,888,200.

The seasonally adjusted unemployment rate is 12% — down from 12.2%, which is slightly more than the 11.8% forecast by economists surveyed by Reuters. Unemployment fell by 33,900 over the three-month period, to leave the jobless rate at 258,100.