Jobless rate set to fall to 10%

Unemployment is set to fall below 10% for the first time since the economic crash as domestic demand picks up and external forces help GDP growth tick towards 4% again this year.

Jobs Minister Richard Bruton’s prediction earlier this week that the country will achieve full employment in 2018 — two years ahead of previous predictions — gathered credence yesterday as a leading economist indicated the unemployment rate would likely rest at about 9.5% by the end of 2015.

Merrion Stockbrokers economist, Alan McQuaid said steady progress is being made and the government’s goal of seeing the rate dip below 10% should be achieved this year if conditions remain largely stable.