Minister Donohoe welcomes CSO figures showing further jobs growth and lower unemployment

Total employment in the third quarter of 2019 increased by 53,700 (+2.4 per cent) relative to the same period in 2018.
Seasonally adjusted unemployment rate estimated at 4.9 per cent in the third quarter.
Ireland’s labour force expanded by 37,900 (+1.6 per cent) over the year to Q3.

Latest figures published today (Tuesday, 19th November 2019) show continued employment expansion in Ireland, with the number of people in employment increasing by 2.4 per cent in the year to the third quarter of 2019. Total employment now stands at over 2.3 million persons, its highest ever level. Unemployment continues to fall, with the seasonally adjusted unemployment rate for the third quarter at 4.9 per cent.

Minister for Finance and for Public Expenditure and Reform, Paschal Donohoe T.D., said:

“I am encouraged by today’s data which show the continued strength of Ireland’s labour market. The number of people in employment grew by 53,700 over the year to the third quarter of 2019, meaning that there are now 2,326,900 people at work in Ireland.

“I am particularly pleased that these figures show employment growth continuing to be spread across the regions and sectors reported by the CSO. With employment continuing to grow and the seasonally adjusted unemployment rate falling below 5 per cent in the third quarter, Ireland’s labour market looks set to record another robust year. The figures are broadly in line with my Department’s macroeconomic forecasts as published alongside Budget 2020 in October.

“Ireland continues to face a highly uncertain macroeconomic situation and evidence of a global economic slowdown has mounted in recent months, but it is encouraging that the labour market appears to be performing steadily despite these factors.

“We are now closer to full-employment than at any time since the onset of the crisis in 2008. At this crucial juncture, it is imperative that economic policy supports continued growth in a sustainable way, protecting the economy against external risks while managing the risk of potential overheating. The package of measures announced in Budget 2020 will ensure that, were a disorderly UK exit from the EU to materialise, appropriate support can be provided to protect against the worst economic effects. In addition to this, the Government’s ongoing Future Jobs Ireland initiative will target increased labour market participation, better skills acquisition, higher capacity for innovation, and greater international attractiveness of Ireland as a place to work into 2020 and beyond.”

Ends

Note to Editors:

Employment increased annually in 6 of 8 regions and 9 of 14 sectors measured by the CSO.
The largest sectoral employment increases in the third quarter of 2019 (in annual terms) were in financial, insurance & real estate activities (+12.9 per cent or 13,000) and public administration & defense (+9.8 per cent or 10,200).
Part time under-employment increased by 300, while long-term unemployment is down 15,300 and now accounts for 1.4 per cent of the labour force.
The participation rate (number of persons in the labour force as a percentage of the population aged 15 or over) stood at 62.5 per cent in Q3 2019, below the pre-crisis peak figure of 66.7 per cent.