Unemployment hits highest rate in over three years 

July marks the 42nd month in a row that the unemployment rate has been below 5%

Youth unemployment - which includes people aged 15 to 24 - increased from 11.3% in June to 12.2% last month. File photo

The seasonally adjusted unemployment rate saw a jump in July to 4.9% as economists warn that the growing international trade uncertainty, as well as the new EU-US trade deal, could negatively impact future job creation.

This is the highest the unemployment rate has been since March 2022 and comes after the EU and US agreed a trade deal which will see EU exports hit with a 15% tariff.  This is likely to further hurt Ireland’s export-led economy.