Irish unemployment level reaches record low beating previous Celtic Tiger levels

A new record low unemployment rate of 3.8pc was recorded this month, according to the latest data released by the Central Statistics Office (CSO).

The seasonally adjusted unemployment rate for May 2023 (for all persons aged 15-74 years) was down to 3.8% from a rate of 3.9% in April 2023, and down from a rate of 4.2% in May 2022.

In May 2023 the seasonally adjusted unemployment rate was down to 4.1% for males from a revised rate of 4.2% in April 2023 and May 2022.

There was also a fall of 3.4% for females, down from a revised rate of 3.5% in April 2023, and a rate of 4.2% in May 2022.

The rate stood at 6.9% for persons aged 15-24 years (youth unemployment rate), down from a revised rate of 7.7% in April 2023.

The unemployment rate remained unchanged at 3.3% for persons aged 25-74 years, from a revised rate in April 2023.

An unemployment rate of below four per cent means the country is classed at full employment.