Annual unemployment rate falls for first time since 2005

The annual unemployment rate has fallen for the first time since 2005 as new figures show the number of people out of work fell by 1.1% in the third quarter of 2012.

Latest jobless figures from the CSO show unemployed numbers fell by 3,600 between July and September, to 324,500. It represents an unemployment rate of 14.8% — one of the highest within the EU.

However, any positive news about the numbers out of work is offset by the fact that the number of people in employment has also continued to fall, albeit at a slower rate than at any time over the past year.