Business News

Labour Force Survey Showing Employment Growth in Third Quarter of 2023 Welcomed

Labour Force Survey (LFS) results published by the Central Statistics Office show continued growth in Ireland’s labour market, with 102,400 jobs created in the year to Q3 2023. Employment now stands at 2.66 million, an increase of approximately 4.0 percent over Q3 2022.

This is reflective of the success of the government’s focus on driving a labour market recovery in the aftermath of the COVID-19 pandemic, as set out in the Economic Recovery Plan. This commitment to continued employment growth has been renewed in the government’s White Paper on Enterprise, published in December 2022, which sets out the strategic direction for job creation in the years ahead.

Commenting on the figures, the Minister for Enterprise, Trade and Employment, Simon Coveney, said, “despite some recent turbulence in the labour market, we have once again reached a historic high for the greatest number of people employed in our country, with the monthly unemployment rate standing at 4.8% in October. Female participation rates in the labour market in particular are now at an all-time high, with more women availing of opportunities for employment. It is also encouraging to see buoyant employment growth across the regions, which is a testament to this government’s commitment to achieving more balanced regional enterprise development.”

The Minister for Finance Michael McGrath said, “these figures indicate the continued strength of the labour market. The official level of employment reached another record high of 2.66 million in the third quarter, with more than 100,000 jobs added over the past year and 27,000 added since the second quarter. The strong growth in employment in the third quarter was driven by additions to labour supply, by net inward migration and increases in participation. As a result, almost three-quarters of our working age population are in employment, an all-time high.”

“While the unemployment rate remains low by historical standards, the small increase in the unemployment rate in the third quarter is in keeping with a softening in general economic conditions, both domestic and international. Indeed with labour supply remaining robust, the labour market now appears to be returning to a more balanced position, a welcome development which eases some of the concerns relating to over-heating pressures.”

Please also find here a link to the results themselves: Labour Force Survey – CSO.

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