Unemployment rate down to 6.4%

The seasonally adjusted unemployment rate for March 2017 was down from 6.4% to 6.6% in February 2017 and down from 8.3% in March 2016.

The seasonally adjusted number of persons unemployed was 141,400 in March 2017, down from 144,700 when compared to the February 2017 figure and a decrease of 39,800 when compared to March 2016.

The Invectec (Irl) Treasury department commented, “With the unemployment rate now within 2.3pc of the record low hit during the Celtic Tiger period, concerns around the level of slack in the economy are likely to intensify. Two factors give us comfort, however. Firstly, given that certain countries have recently decided not to compete as aggressively for global talent as they previously did, this should make it easier for firms in Ireland to attract workers from other jurisdictions. Secondly, as economic conditions here continue to strengthen, this increases the incentive for those Irish nationals who emigrated during the downturn to return.”

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Summary points for March

  • In March 2017 the seasonally adjusted unemployment rate was 6.9% for males, down from 7.1% in February 2017 and down from 9.8% in March 2016.
  • The seasonally adjusted unemployment rate for females in March 2017 was 5.8%, down from 5.9% in February 2017 and down from 6.6% in March 2016.
  • The seasonally adjusted number of males unemployed in March 2017 was 83,500. This is a decrease of 2,200 when compared to the February 2017 figure of 85,700. In March 2017 the seasonally adjusted number of females unemployed was 57,900, a decrease of 1,100 when compared to February 2017.
  • The seasonally adjusted unemployment rate for persons aged 15-24 years (youth unemployment rate) was 13.9% in March 2017, a decrease from 14.5% in February 2017.