The unemployment rate - including those on Covid-related payments - fell to 7% in February, new Central Statistics Office figures revealed on Wednesday.
This was a slight decrease on the 7.8% jobless rate in January and a huge drop on the 27% of people unemployed and receiving coronavirus-related subsidies last year.
The CSO estimated a significant 180,745 people were listed as being out of work or in receipt of the Government’s pandemic unemployment payment (PUP) last month.
Meanwhile, the standard unemployment rate, which does not include those receiving PUP payments, was 5.2% and unchanged since January.
Speaking about the figures, Jack Kennedy - an economist at global job site Indeed - said the unemployment rate in February fell as restrictions were lifted and the economy was boosted.
He described it as “amazing” that 229,000 additional jobs were added to the economy last year, a 10% surge that increased the number above the pre-pandemic working level.
Mr Kennedy said: “Ireland’s ability to recover rapidly from labour market shocks is notable given that the UK and euro zone economies have yet to see their labour markets recover to such a great extent.”
He said the economy is performing well in terms of job creation, but it’s alarming that there has been a jump in the long-term jobless rate -those unemployed for more than a year.
Mr Kennedy pointed out that 44,300 people were listed as being long-term unemployed at the end of last year, a 20& increase on the figure in December 2020.
He said: “With the economy performing strongly, this segment is an important area for Government to focus on for training and reskilling.
“The Action Plan for Apprenticeships is one helpful policy lever, aiming to grow the number of new apprentice registrations to 10,000 per year by 2025.”
He told RTE: “Equipping people with appropriate skills in segments of the economy experiencing labour shortages is valuable both for employers and potential apprentices.”
The latest CSO data was published as it has emerged there are labour shortages across several sectors of the Irish economy due to foreign workers leaving during the Covid-19 pandemic.
