Unemployment Rate in Ireland Steady at 4% in May

Dublin: The unemployment rate in Ireland remained stable at 4% in May, unchanged from April, according to the Central Statistics Office (CSO).

The figures show that 3.8% of men and 4.1% of women were unemployed. Although the rate held steady month-on-month, it has improved from 4.2% in May of the previous year.

The total number of unemployed people in May was 111,700, a slight decrease from 111,800 in April, and down by 3,700 compared to the same month last year.

Youth unemployment, for those aged 15 to 24, decreased to 7.7% from 8.1% in April. For those aged 25 to 74, the rate stayed the same at 3.4%.

Andrew Webb, Chief Economist at Grant Thornton Ireland, commented that the steady unemployment rate, coupled with recent interest rate cuts, could lead to fresh economic growth in the latter half of the year.

The CSO figures highlight a stable labor market with signs of improvement compared to last year, especially among the younger population.

Leave a Comment

%d bloggers like this: