Jobless at 7.9% - No reason for complacency

UNEMPLOYMENT in Ireland fell to 7.9% last month, down from 8.2% in August. It is now running at its lowest rate since 2008, having hit a peak of more than 15% in 2012.

That’s the good news.

Even better news is that youth unemployment halved over the same period, from more than 33% to 15.9%, although the latter is still unacceptably high.

These figures are undeniably welcome, but they should provide no reason for complacency.

As Brexit shows, Ireland is particularly vulnerable to global economic trends and we are not entirely in control of our own destiny.

When Finance Minister Michael Noonan unveils his Budget plans for 2017, next week, they are expected to provide some relief for taxpayers, as well as spending increases for key services.

However, his prime focus must remain unemployment and ensuring not only that we emerge more fully from recession, but also that we face a bright and prosperous future.