The latest Live Register release from the CSO shows that the standardised unemployment rate fell again in January, declining 10bps m/m to 10.5%.
This is the thirteenth successive monthly drop in the unemployment rate in Ireland, which peaked at 15.1% in February 2012. The seasonally adjusted number of people on the Register, at 360,200, is -3,600 m/m and 20% below peak levels. January also represents the 31st successive monthly fall in the number of people ‘signing on’.
Overall, the above has a familiar feel to it, with continued general progress, but also a sense that more remains to be done in order to help all of the segments of the labour force to benefit from the upturn in the Irish economy.