The unemployment rate stood at 6% in the first quarter of 2024, compared to 6.8% in the corresponding period last year, according to the Statistical Service.
While the unemployment rate showed a slight decrease, which is positive, some concerning figures emerged from the data that should set off alarm bells.
Specifically, the data indicates that among young people aged 15-24, the unemployment rate increased marginally to 16.2% of the labour force in this age group.
The relatively high unemployment rate among young people is an issue that has concerned authorities for years, and finding solutions remains a challenge.
Another issue highlighted by the data is the duration of unemployment. According to the figures, 26.2% were long-term unemployed.
While this represents a decrease compared to 2023, it remains at a high level, indicating that a significant number of people are struggling to enter the labour market.
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