Ireland moving closer to full employment but youth unemployment is still a 'blackspot'
IRELAND is moving closer to full employment as the number of people out of work fell by over 6,000 in the last year.
The employment rate stood at 5.4pc last month – down from 5.6pc in February.
There were 131,300 people out of work, down from 134,700 the previous month and a 6,200 drop since March last year.
The seasonally adjusted unemployment rate for men is 5.4pc and it is 5.5pc for women.
There are 70,500 men out of work and 60,800 women.
Youth unemployment among those aged 15 to 24 stands at 13.4pc.
The Central Bank has predicted that the economy will hit full employment this year as the unemployment rate falls to just over 5pc.
The continuing drop in unemployment will trigger an increased reliance on workers from abroad to fill roles, according to global job site Indeed.
Indeed economist, Pawel Adrjan, said the downward trajectory means employers will find it increasingly challenging to recruit talent.
He said non-Irish nationals made up 57pc of employment growth in the past year and nearly half of that comes from outside the EU.
He said a review of the top ten jobs that non-EU nationals search for in Ireland reveals a strong interest in tech roles.
Six of the ten most popular jobs were in this area, while positions for civil engineers and doctors also made the list.
He noted that lack of staff has boosted pay growth to around 4pc a year.
However, he said youth unemployment is more than double the level in Germany and Netherlands.
“One of the continuing black spots in the numbers is the youth unemployment rate, which was 13.4pc in March, down from 13.8pc in February,” he said.
This is significantly higher than countries with the lowest rates including Germany (5.6pc), the Czech Republic (6%) and the Netherlands (6.4pc), he added.