Unemployment rate drops to record low of 3.9%

Tomas Doherty

The State's unemployment rate has fallen to match the previous record low of the early 2000s.

According to the Central Statistics Office, the seasonally adjusted unemployment rate for April 2023 was down to 3.9 per cent.

The jobless rate has remained between 4.2 and 4.5 per cent over the last year, according to the most recent set figures a month ago, however the rates in February and March were revised down to 4.1 and 4 per cent respectively on Thursday.

The unemployment rate was last at 3.9 per cent between October 2000 and April 2001.

Andrew Webb, chief economist at Grant Thornton Ireland, said the current labour market was "the gift that keeps on giving".

"With unemployment now below 4 per cent, there are 15,000 fewer people unemployed than a year ago," he said. "This is exceptional performance in the context of the economic challenges faced over the past number of years.

"A note of caution is still required however, as continuing cost of living pressures and ongoing global uncertainty are still weighing on consumer sentiment which softened a little in the last month."