The number of people signing on the dole fell by 3,726 in October to 157,706, according to the latest Live Register figures released today.
The seasonally adjusted figure fell by 100 over the month to 162,900, figures from the Central Statistics Office (CSO) reveal.
The CSO's standardised unemployment rate in October was 4.3 per cent, compared with 4.2 per cent in April 2002, based on the Quarterly National Household Survey.
The Live Register is not designed to measure unemployment as it includes part-time workers (those who work up to three days a week), seasonal and casual workers entitled to unemployment assistance or benefit.
Unemployment is more accurately measured by the Quarterly National Household Survey and the latest figure, for March-May 2002, is 77,200 persons unemployed.
The Labour Party's new spokesperson on enterprise, trade and employment, Mr Brendan Howlin, said the figures were "bleak news" ahead of what he called the upcoming "austerity budget".
He said: "We can expect to see a continuing rate of unemployment in the months ahead as the impact of the Government cutbacks and price increases are keenly felt by the most vulnerable in Irish society".