Employment rate - Figures are encouraging

The unemployment rate fell again in December for the 18th consecutive month, down to 12.4% from 12.5% the previous month, as 3,300 fewer people signed on the live register.

The rate is now at its lowest since May 2009, and is a major improvement on the peak of 15.1% reached in Feb 2012.

It shows that Ireland is approaching the average unemployment rate in the eurozone, which stands at 12.1%. The lowest unemployment rates were recorded in Austria (4.8%), Germany (5.2%), and Luxembourg (6.1%), and the highest in Greece (27.4% in Sept 2013) and Spain (26.7%).

While the latest figures for Ireland are encouraging, cynics will argue that it is mostly as a result of emigration. But, while that remains a contributory factor, there is now clear evidence that employment conditions in most sectors of the economy have generally improved in the past few months.

In other words, confidence in the economy is returning and even begrudgers must accept that that is good news.