According to the latest figures from the Central Statistics Office (CSO), unemployment fell to 7.9% last month including individuals who were in receipt of the Pandemic Unemplyemnt Payment (PUP).
Covid-adjusted rates reveal that unemployment fell to 8.9% in September and 20.3% in October 2020.
The traditional and seasonally adjusted rate of unemployment stood at 135,200 people, which was 5.2% of the workforce in October.
This was unchanged in September but down 18,400 from the 6.3% recorded in October.
The latest figures show that those aged 15 to 24 years old make up 11.1% of the Covid-adjusted unemployment rate while 25 to 74-year-olds make up 7.4%.
The traditional measure of unemployment shows that 10.4% were 15 to 24-year-olds while 4.4% were 25 to 74-year-olds.
The Department of Finance forecasted that unemployment would average 7.2% in September next year and fall to 6% in 2023 as the economy continues to recover from Covid-19.
IMAGE – Paschal Donohoe