Business Irish

Friday 14 December 2018

Unemployment rates fall to lowest figure since February 2008 - CSO

(stock photo)
(stock photo)
Louise Kelly

Louise Kelly

The youth unemployment rate fell slightly last month, dropping to 12.3pc from 12.9pc in October of this year.

According to the latest CSO figures, the overall unemployment rate for November was 5.3pc, the lowest since February 2008.

This reflects a decrease of 0.1pc from a rate of 5.4pc in October, down from 6.4pc in November 2017.

On a month-on-month comparison, the number of people unemployed was 127,600, down from 130,100 in October 2018.

Compared with the same month last year, that figure dropped by 23,700.

Minister for Employment Affairs and Social Protection, Regina Doherty, said that it's nearly eleven years since the unemployment rate was this low.

"Indeed, from the peak levels of mid-2011, the number of people unemployed has now fallen by two thirds. Clearly, the economy is moving in the right direction and we are enjoying falls in the unemployment rate we could never have anticipated just a few short years ago," she said.

The number of men unemployed last month was 68,600, down from 69,900 in October 2018.

Meanwhile, the number of women unemployed in November was 59,000, a decrease of 1,300 when compared to October 2018.

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