Jobless rate dips below 7 percent, setting record

By Andrew Bushe

DUBLIN — Unemployment has plummeted to its lowest level in 16 years and has dropped by a record 34,160 in the year to February, according to figures released by the Central Statistics Office.

The unemployment rate is now down to 6.8 percent — a major coup for the Fianna Fail-Progressive Democrats coalition — and the first time it has dropped to this level since modern records began in 1983.

Getting the jobless numbers below the 7 percent threshold had been the target set in the government’s Employment Action Plan for the end of the year 2000.

Having beaten the target with more than 18 months to spare, Tanaiste Mary Harney said there will now be a major push over the next 12 months to drive the figure down below the 5 percent mark.

The economic buoyancy meant that 6,403 signed off the dole in February — 70 percent men and 28 percent under 25.

There were 207,611 signing on for benefits last month, but these include part-time workers, people signing on for social welfare credits and seasonal workers.

It is estimated that the actual numbers without a job are about 50,000 fewer than the sign-on figure.