Unemployment falls for the first time since 2005, figures show

Irish unemployment fell for the first time since 2005 in the third quarter of the year, figures published today (November 29th) reveal.

Jobless numbers fell by 1.1 per cent to 324,500 in the three months to the end of September, the Central Statistics Office (CSO) said this morning.

And while many say there is still a long way to go until the economy returns to any kind of normality, small businesses may be hiring more people after a turbulent spell.

Merrion Stockbrokers economist Alan McQuaid told the Irish Times that ministers still need to do more to help those looking for a job.

He added: "But there is no easy fix to the unemployment problem, and things are unlikely to significantly improve on the jobs front until the economy starts to grow again on a sustained basis. Overdoing it on the fiscal austerity front is certainly not the answer in the current environment."

One sector that could be about to improve is the Irish finance industry after the City of London Lord Mayor Roger Gifford said growth in his capital is likely to benefit the likes of Dublin as well.

Posted by Thomas Fletcher

Last updated: 29th November 2012