Davy Research

Irish economy

Irish unemployment falls to 6.1%

DAVY VIEW

Unemployment fell to 6.1% in November from 6.3% in October, but today’s data come with a health warning ahead of revisions in January. As we have been pointing out for some time, the unexpected inward migration flows captured in Census 2016 mean the labour force numbers will be significantly revised and could yet yield big changes to the unemployment rate and our understanding of the remaining slack in the Irish economy. Indeed, taking a broad range of indicators into account suggests that the economy is still some way from full employment.

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