Business

Irish unemployment falls slightly in November

118,900 people registered as unemployed during the month, down from 124,300 last year

Ireland’s unemployment rate fell in November to 4.1 per cent. Photograph: iStock
Ireland’s unemployment rate fell in November to 4.1 per cent. Photograph: iStock
Fiona Keeley
Wed Dec 04 2024 - 12:57

Ireland’s unemployment rate in November was 4.1 per cent, slightly down on the previous month, according to latest Central Statistics Office (CSO) data.

The monthly seasonally adjusted figure marks a reduction from 4.2 per cent in October and from 4.4 per cent on the same month last year.

“There was a fall of 5,400 in the seasonally adjusted number of people unemployed in November 2024 when compared with a year earlier,” said labour statistician Conor Delves.

Some 118,900 people registered as unemployed in November, down from 124,300 in November 2023. The number was down from 120,300 in October.

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Overall, 4.1 per cent of men registered as unemployed during the month, unchanged on a monthly basis but down from 4.3 per cent year-on-year.

The percentage of women who registered as unemployed dropped to 4.1 per cent in November from 4.6 per cent the previous year. On a monthly basis, unemployment among women fell from 4.3 per cent in October.

The rate for men in the 15 to 24 age category increased slightly from 10.7 per cent in October to 10.9 per cent, and was up from 10.3 per cent year-on-year.

For women in the same age category, the rate increased on a monthly basis from 10.9 per cent in October 2024 to 11 per cent in November.

In the 25 to 74 age category, unemployment among men was at 3 per cent in November, a slight drop from 3.1 per cent on a monthly basis, and from 3.4 per cent in November 2023.

The rate for women in the same age category also fell on an annual basis from 3.5 per cent in November 2023 to 3 per cent in November 2024.

Jack Kennedy, senior economist with jobs platform Indeed, noted the unemployment rate has now remained below 5 per cent for 34 months in a row.

“The CSO’s most recent labour force survey found the estimated employment rate for people aged 15 to 64 was about 75.6 per cent in Q3 of this year – the highest rate recorded since the series began in 1998,” he said.

Earnings data released by the CSO earlier this week showed average weekly income rose by 5.3 per cent in the third quarter compared to the same period last year, at €955.49.

Mr Kennedy said that the EU is likely to “monitor wage inflation across the EU closely as they prepare to cut interest rates”.

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