Is Ireland about to become a country without unemployment?
Is Ireland on its way to becoming a country without unemployment? According to the Central Statistics Office (CSO), the country’s unemployment rate has fallen to a record low of 3.8%, breaking the previous record low of 3.9% set during the Celtic Tiger period from October 2000 to April 2001. For months, the unemployment rate has been declining.
There are only 1,05,400 unemployed people in the country. It is 2,600 more than in May. Andrew Webb, Chief Economist of Grant Thornton, estimates that unemployment may have increased due to the increase in school and college leavers. However, the report indicates a 6,000-person decrease from June of last year.
The number of unemployed men increased by 61,800 in June, from 59,800 the previous. This represents a 1% increase. As a result, the male unemployment rate increased to 4.2%. The situation for women (3.4%) remained unchanged. The number of unemployed women increased from 43,000 to 43,600, the report revealed.
According to the report, youth unemployment has increased since the end of the academic year. The unemployment rate for people aged 15 to 24 rose from 6.9% to 7.4%. Meanwhile, unemployment among the 25-74 age group remains at 3.3%, the report said.
While the falling unemployment rate is good news for job seekers and others, it’s not for some employers, said Pawel Adrjan, director of economic research at Indeed. They are facing difficulties in finding suitable staff and controlling costs.
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