Employment rates have once again reached record highs as Ireland reaches full employment.
There are now more people at work in Ireland than there were at the height of the Celtic Tiger.
Figures released by the Central Statistics Office (CSO) showed that the unemployment rate for May 2023 was 3.8%
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In May 2023 the seasonally adjusted unemployment rate was down to 4.1% for males, down from a revised rate of 4.2% in April 2023.
It was also down to 3.4% for females from a revised rate of 3.5% in April 2023. In May 2022, some 4.2% of women were employed.
The youth unemployment rate (those aged between 15 and 24) fell from 7.7% in May 2022.
Employment rates for those over 25s remained unchanged at 3.3%.
Jack Kennedy, senior economist at hiring platform Indeed, stated the current unemployment rate is the lowest since records began in 1998.
He said: “The unemployment rate was last at 3.9% between October 2000 and April 2001. This was at the height of the Celtic Tiger.
“Any rate below 4% signals that the country is at ‘full employment’. The rate of unemployment has never been recorded at less than 3.9% before.
“The record figures are impressive and a sign of a strong performing Irish economy despite other pressures such as the rising cost of living.”
He warned, however, that having such high rates of unemployment does present difficulty as it makes positions harder to fill.
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