Unemployment drops to 6.1% in January

Numbers out of work now at lowest rate since May 2008

Unemployment is now at its lowest rate since May 2008. Photograph: Aidan Crawley

Unemployment is now at its lowest rate since May 2008. Photograph: Aidan Crawley

 

Unemployment fell again in January, dropping down to 6.1 per cent, as the economy continues to move closer to regaining full employment. This is the lowest rate of unemployment since May 2008, when a figure of 5.9 per cent was recorded.

Figures just published by the Central Statistics Office show that unemployment stood at 6.1 per cent in January 2018, down from 6.2 per cent in December 2017, and from 7.4 per cent in January 2017.

The seasonally adjusted number of persons unemployed was 143,700 in January 2018, down from 146,700 when compared to the December 2017 figure and a decrease of 28,600 when compared to January 2017.

In January, the seasonally adjusted unemployment rate was 6.5 per cent for males, down from 6.6 per cent in December 2017 and down from 7.5 per cent in January 2017, while the rate for females stood at 5.6 per cent, down from 5.8 per cent in December 2017 and down from 7.3 per cent in January 2017.

Youth unemployment stood at 13.7 per cent in January, down from 13.8 per cent in December 2017.

Last week the Central Bank asserted that it expects to see an additional 89,000 jobs created in the Irish economy over the next two years, bringing total employment to a record 2.3 million. This would see the unemployment rate drop to just over 5 per cent next year.