Unemployment remains anchored at two-decade low of 4.4%

An unemployment rate of 4 per cent here is considered to equate to full employment. Photograph: Brenda Fitzsimons / THE IRISH TIMESUnemployment in the Irish economy remained at near two-decade low of 4.4 per cent in January despite the inflation crisis, suggesting conditions in the labour market remain tight.

The headline figure was down from almost 5 per cent in January last year. Central Statistics Office figures, published on Wednesday, indicated there were 118,300 people classified as unemployed last month compared with 119,100 in December. There was a decrease of 10,300 in the seasonally adjusted number of unemployed people in January when compared with a year earlier, the CSO said.

While consumer spending and investment have slowed in the face of inflationary pressures, the Irish labour market remains resilient. An unemployment rate of 4 per cent here is considered to equate to full employment.

Source: News Formal (newsformal.com)

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