The seasonally adjusted unemployment rate for September 2015 was 1.5% less than in September 2014.This equates to 28,100 less people claiming unemployment benefit or unemployment assistance when compared to the same month last year, which is another strong indicator of recovery in the Irish economy and a huge surge in growth in the employment market.
Male unemployment has fallen significantly, down from 12.3% in September 2014 to 10.5% in September 2015. Female unemployment levels fell from 9.2% in September 2014 to 8.1% in September 2015.
The unemployment levels are lowest amongst those in the 25-74 age group, whereas the highest rate is experienced in the 15-24 age group, at 20.6%. This is down from 22.5% in September 2014 and significantly down from 26.2%, a rate recorded in February 2014.
Falls in unemployment are one of the main signals of a confident and growing economy. The ESRI substantiated this by revising their predictions for growth in 2016 to 6%, which will be, bay far, the highest growth rate in the Eurozone. As a result of significantly more people in employment, consumer sentiment along with domestic demand is set to continue on its steep upward trajectory. Income per worker is now at pre-crisis levels, according to the ESRI, which is very positive news for Irish workers.
Continued economic growth translates into greater opportunities for job hunters and those considering changing jobs. Changing jobs can be one of the biggest decisions in a person’s life but this decision is made significantly easier where risk is significantly de-leveraged by the economy presenting the job hunter with a new raft of opportunities