Thu, 05 Oct 2023

DUBLIN, Ireland: Ireland has set a record as unemployment fell to 3.8 percent in May, according to the Central Statistics Office (CSO).

There are now more people at work in Ireland than at any other time since 1998 when the keeping of unemployment records began.

A breakdown of the figures shows that 4.1 percent of Irish males were unemployed, down from 4.2 percent in April.

Female unemployment was recorded at 3.4 percent, down from 5.5 percent in April. In May 2022, some 4.2 percent of women were employed.

"Any rate below 4 percent signals that the country is at 'full employment'. The rate of unemployment has never been recorded at less than 3.9 percent before," said Jack Kennedy, senior economist at hiring platform Indeed, as quoted by Reuters.

"The record figures are impressive and a sign of a strong performing Irish economy despite other pressures, such as the rising cost of living."

Kennedy noted that such a low unemployment rate will also bring hardships to Irish businesses as they have difficulties filling positions.

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