First fall in jobs growth for seven years hints at peak employment

Irish jobs growth fell for the first time in seven years in the second quarter of the year, indicating that employment may be reaching peak level.

CSO figures show that employment rose by 2%, year-on-year, in the three months to the end of June; down from 3.7% annual growth in the first quarter and 3.4% in the second quarter of last year. When adjusted for seasonal factors, employment fell by 0.9% between the first two quarters of the year and the unemployment rate rose slightly from 5.1% to 5.2%.