Irish unemployment falls to 21-year low of 4.2%

Ireland's unemployment rate fell to a 21-year low of 4.2% in both May and July, new and revised data from the Central Statistics Office (CSO) showed on Thursday. Provisional data had shown the jobless rate hovering at the level it stood at before the COVID-19 pandemic before the May reading was revised down to 4.2% from 4.7% and June amended to 4.3% from 4.8% previously.

"Despite inflationary pressures and the ongoing war in Ukraine, the rate of unemployment is expected to continue its downward trajectory in coming months," Jack Kennedy, economist at global job site Indeed, wrote in a note.

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