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Market Update: Ireland Jobless Rate Inches Lower in May
The seasonally adjusted unemployment rate in Ireland inched down to 7.8 percent in May of 2021, from an upwardly revised 7.9 percent in the prior month. The latest reading pointed to the second highest jobless rate in the country since September of 2016. The number of unemployed people fell by 6,600 from a month earlier to 174.7 thousand. The alternative COVID-19 adjusted unemployment rate, which includes persons on COVID-19 Pandemic Unemployment Payment and considered as the upper bound for the true rate of unemployment, retreated to 21.9 percent from 24.8 percent in April and from 29.8 percent in May of 2020. Meanwhile, the youth unemployment rate, measuring job-seekers aged 15-24 years, stood at 18.1 percent, unchanged from the previous month and remained the highest since September of 2020. source: Central Statistics Office Ireland [/s2If]
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