Belfast Telegraph

Unemployment falls to 139,100 but more young people out of work

The unemployment rate was 6.3% last month, official figures have revealed.

The Central Statistics Office (CSO) said there were 139,100 people out of work in August - a drop of almost 34,000 in the last year.

Despite the improving numbers, the report showed an increase in the amount of young people who have not been able to find permanent work.

The CSO said that youth unemployment - counting the number of 15 to 24-year-olds without a job - was 12.7% in August, up from 12.3% in July.

Jobs site Indeed warned that the housing issues in Ireland might put off overseas workers as demand increases for skilled workers.

Mariano Mamertino, economist with the online company, said the unemployment rate was on track to drop below 6% by the end of the year, nearing full employment.

"Recent positive indications on post-Brexit relocations of financial services companies from London to Dublin are likely to help drive further jobs growth, particularly in Dublin," he said.

Indeed described Ireland as a magnet for European jobseekers with online jobs searches up 31% compared to two years ago.

"Even after the spikes in interest from EU jobseekers registered after the Brexit referendum and messaging around a 'hard Brexit' last year, interest for jobs in Ireland still remains at elevated levels," Mr Mamertino said.

He warned the biggest challenge could be when skilled staff are put off by the lack of suitable rental accommodation in Dublin.

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