Unemployment reaching a record low as weekly Earnings Soar

The Irish consumer market continues to showcase its strength and resilience. According to the latest report by CSO unemployment has hit a record low of 3.8%, while weekly earnings have reached a new high of €923.48.

This remarkable achievement is even more significant when considering that seasonally adjusted unemployment is now 50% lower than its peak during the Covid pandemic two years ago. Furthermore, the Irish labour force has surpassed 2.7 million for the first time in recorded history, and average weekly earnings are 20% higher than pre-Covid levels. With such positive indicators, the outlook for the Irish retail market is incredibly promising.