Government statisticians say Ireland’s unemployment rate has fallen to an eight-year low of 7.5 percent, a level last seen before a banking crisis wrecked the property-driven Celtic Tiger economy.
The Central Statistics Office says in Tuesday’s report that joblessness fell to 7.5 percent in October from 7.7 percent the previous month as the number of people with jobs also rose 2.9 percent to an eight-year high topping 2 million.
Ireland in 2010 faced national bankruptcy over the cost of saving its failing banks. The nation has rebounded strongly since exiting an international bailout in 2013, driven by the robust exports of its approximately 1,000 resident multinationals.
Ireland this year is experiencing net inward migration for the first time since 2009, when surging unemployment drove tens of thousands of jobseekers overseas.