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Figures show drop in unemployment rate to 8.9%

Published 01/12/2015

The latest unemployment figures show that 191,700 people were classed as being out of work
The latest unemployment figures show that 191,700 people were classed as being out of work

Some 191,700 people were recorded as unemployed last month - a rate of 8.9%.

Official figures from the Central Statistics Office (CSO) revealed the number of people out of work has come down by 32,100 in the last year - a fall of 1.5%.

A breakdown of the records showed 120,700 men classed as unemployed and 71,000 women while the youth unemployment rate remains stubbornly high at 19.5%, a small fall on October's rate of 19.8%.

The CSO has said the last time unemployment was below 9% was in late 2008 and subsequently it peaked at more than 15%.

Davy Stockbrokers said the figures may be revised down again in coming months when other studies are taken into account by the statisticians.

The investment company said the real unemployment rate could be closer to 8.5%

"The flat unemployment rate in November should not be taken as a strong signal of any slowdown in the labour market," Davy said.

"Our concern is that our forecast for the unemployment rate to average 8.2% in 2016 could still prove too pessimistic."

Jobs Minister Richard Bruton warned there is no room for complacency in attempts to create jobs.

"The closer we get to full employment, the more difficult it is to continue to ensure that the jobs that are created are filled by people who are unemployed," he said.

"We are determined as a government to rise to that challenge, to keep the recovery going and to continue to create the jobs we need."

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