22nd August 2024
The Q2 2024 Labour Force Survey and latest Monthly Unemployment Release show:
- employment continues to grow, with 70,800 jobs created in the year to Q2 2024
- total employment now stands at 2.74 million
- regions have driven this jobs growth – Employment outside of Dublin increased by 43,600 in the year to Q2 2024 (+2.3%)
- full time employment was up 62,300 (+3.0%) year on year in the second quarter, while part time employment was up 6,900 (+1.2%) year on year
- in July 2024, the seasonally adjusted unemployment rate was 4.7%, up from the revised rate of 4.5% in June 2024 and from a rate of 4.5% in July 2023
Labour Force Survey (LFS) results published today by the Central Statistics Office show continued growth in Ireland’s labour market, with 70,800 jobs created in the year to Q2 2024. Employment now stands at 2.74 million, an increase of approximately 2.6% over Q2 2023.
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, Peter Burke TD, said:
“The Irish labour market remains exceptionally resilient as we move through 2024, with another successive quarter showing a new record for the highest number of people employed in our country than ever before. More than half of the jobs created in the past year were outside of Dublin which is a testament to this Government’s commitment to achieving more balanced regional enterprise development.
“It is encouraging to see that female participation rates in the labour market remain at historical highs, with more women availing of opportunities for employment, and more women moving from part-time to full-time positions.”
Minister for Finance, Jack Chambers TD, said:
“Today’s figures indicate the continued strength of the labour market in the second quarter of 2024.
“The official level of employment rose to a new record high of 2.75 million in the second quarter, with over 71,000 jobs added in the year to Q2 and more than 20,000 added in the second quarter alone. As a result, almost three quarters of our working age population are now in employment – a record high. Continuing the trend seen in recent quarters, the strong annual growth in employment in the second quarter was driven by additions to labour supply; by net inward migration as well as increased labour force participation, with female participation reaching an all-time high.
“Overall, today’s figures are somewhat stronger than anticipated and underscore the robust performance of the labour market in the first half of 2024. The strength of employment growth is however consistent with strong income tax growth in the second quarter. Notwithstanding this, the modest uptick in the unemployment rate suggests some easing of the tight conditions that characterised the labour market last year. With labour demand moderating and labour supply remaining robust, there are early signs that the labour market may be returning to a more balanced position, at least overall. My department will publish updated macroeconomic projections as part of Budget 2025 in October.”
Link to the CSO release: Labour Force Survey (LFS) - CSO
ENDS
Back to Department News