Record high unemployment rate holds steady

The record high unemployment rate of 14.8% held steady again last month - despite a slight drop in the number of people on the live register.

On a seasonally adjusted basis, the Live Register fell by 1,000 in October - bringing that total to 434,200.

The CSO said that the number of people under 25 who are on the dole has fallen by 10% in the year to October - but it also reports that there were 33,269 new registrants on the Live Register last month.

Austin Hughes is Chief Economist with KBC Bank: