From Department of Enterprise, Trade and Employment
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The Q3 2022 Labour Force Survey and latest Monthly Unemployment Release show:
Labour Force Survey (LFS) results published today by the Central Statistics Office show a continued recovery from the pandemic in Ireland’s labour market, with 83,100 jobs created in the year to Q3 2022. Employment now stands at 2.55 million, an increase of approximately 3.4 percent over Q3 2021.
This is reflective of the success of the government’s efforts to help workers and businesses during the pandemic, the successful rollout of the vaccination programme and the focus of driving a labour market recovery set out in the Economic Recovery Plan.
Commenting on the figures, Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, said:
"More people are employed in Ireland now than ever before. The unemployment rate in October also stands at 4.4 percent- a level not seen since 2005. That is incredible given where we were a couple of years ago, with the pandemic and Brexit, and the current challenges we are now facing with Putin’s war and inflation. It is a testament to the hard work and remarkable resilience of Irish enterprise.
"I know these results don’t tell the lived experience for all businesses and workers. Some businesses are still struggling, especially with increased costs, and we will continue to help through our support schemes, including those announced in the recent Budget.
"Staff and their families will also be affected by the recent announcements of down-sizing in certain tech companies with a presence in Ireland. We will assist any employees affected as they seek alternative employment or other opportunities. There are well-established statutory processes to protect employees, and we are confident that all national employment rights requirements for consultation and notification of redundancies will be adhered to once decisions on any reductions in employment are made.
"No company, however, has given any indication that it is considering closing its Irish base. As a country we are close to full employment, with high demand for tech, marketing and other skills across all sectors. There is a strong pipeline of new investments from overseas and within Ireland in a range of sectors including tech and other sectors, and we expect many positive announcements in the coming months. The economy is well diversified, with hundreds of thousands of people employed by indigenous SMEs, pharmaceuticals, agri-food, med-tech, and financial services.
"At government level we are focussed on competitiveness and ensuring that Ireland is the best place in Europe in which to invest and grow for the future. We are acting on energy, skills, housing, access to water services, and planning. We have never taken our economic prosperity for granted. Next month we will publish a White Paper on Enterprise which will set the strategic direction for job-creation and growth for the years ahead."
The Minister for Finance Paschal Donohoe said:
"Today’s data showed the labour market remaining broadly stable, despite the challenges by global geopolitical developments and higher energy prices. This resilience saw the level of employment continue to stand at 2.55 million in the third quarter, with unemployment remaining at its lowest rate since 2005.
"While these overall employment figures were positive, there were marked declines in certain sectors, including ICT, while participation rates saw a slight rollback from their exceptionally high levels.
"Looking ahead, forward looking indicators suggest a moderation of activity and sector-specific risks in both domestic and international sectors but conditions in the labour market are likely to remain relatively tight. With core inflation remaining high in October, it is important that government policy does not add to strong underlying price pressures in the economy. The government has sought to get the balance right between helping citizens and businesses deal with the rising cost of living and not adding to inflationary pressures. In their assessment of Budget 2023 published yesterday, the Irish Fiscal Advisory Council stated that the government struck an appropriate balance."
Please also find here a link to the results themselves: Labour Force Survey Quarter 3 2022 - Central Statistics Office