The country’s unemployment rate fell to 4% in January, from a revised figure of 4.5% a month earlier, new figures from the Central Statistics Office show today.
Today’s CSO figure show that the monthly unemployment rate for men stood at 4% in January, down from a revised rate of 4.9% in December 2024, and down from 4.3% in January of last year.
The monthly jobless rate for women was 4.1% in January, up from a revised rate of 4% in December but lower that the rate of 4.7% in January 2024.
Meanwhile, the youth unemployment rate eased to 11.9% in January from a revised rate of 12.7% in December 2024.
The CSO said the seasonally adjusted number of people who were unemployed stood at 116,200 in January, down from 128,600 in December 2024.
There was a fall of 10,200 in the seasonally adjusted number of people unemployed in January 2025 when compared with January 2024, it added.
Pawel Adrjan, economist at hiring platform Indeed, said today’s CSO figures show that the Irish labour market is continuing to perform strongly as we move into 2025 having remained at or below 4.5% for the duration of 2024.
“Irish job postings on Indeed, a real-time measure of labour market activity, have steadily retreated after peaking in early 2022 at levels that were more than double their pre-pandemic baseline,” the economist said.
“They have, however, remained relatively high as the market has rebalanced. As of January 31, they were steady at 20% above the February 1, 2020 pre-pandemic baseline (seasonally adjusted),” he added.
Indeed noted that Dublin continues to fare the worst among large counties when it comes to job postings, reflecting its greater sectoral exposure to the kinds of tech and professional occupations that have experienced some of the biggest declines.
“The total level of job postings in Dublin was 8% below the pre-pandemic baseline as of mid-January, the only county analysed where postings are not currently higher than pre-pandemic norms, though declines have stabilised in recent months,” Pawel Adrjan said.
“Looking at the wider picture, Ireland’s labour market is predicted to remain tight in 2025 and the economy is forecast to grow as inflation continues to ease,” he said.
But he cautioned that concerns have emerged about the potential impact of international trade or tax policies.
“While this concern is based on what may happen, it is causing uncertainty in the here and now. It also comes against a backdrop of sluggish European growth and as the cost of running a business in Ireland remains high, especially due to energy prices,” the economist said.
“Although not within Ireland’s direct control, these actual and potential risk factors are being watched closely by policymakers and may impact job creation in the longer-term, and perhaps in the medium-term also,” he added.
