Ireland's youth unemployment rises slightly in June

Overall the jobless rate remains static...

The Central Statistics Office (CSO) has revealed that Ireland's unemployment rate posted at 7.8% last month, unchanged from May.

The seasonally-adjusted total of people out of work was 169,100 in June, down slightly from 169,600 the month previously.

The number was down significantly from the June 2015 figure of 203,700.

Youth unemployment, however, was up.

The adjusted jobless rate for people aged between 15 and 24 was 15.3%, up from 15.1% in May.

Merrion Stockbrokers commented:

"The outlook from next year on is more uncertain in light of 'Brexit'. Still, we expect the downward trend in unemployment to continue over the remainder of this year, albeit at a slower pace than before.

"With the economy still growing strongly, an average jobless rate of 7.8% is now envisaged for 2016, down from 9.4% in 2015 and 11.3% in 2014."