Unemployment fell to 3.6% of the labour force in the second quarter of 2026, reaching its lowest level since the fourth quarter of 2008, according to data released by the Statistical Service on Thursday.
The unemployment rate stood at 4.3% in the same quarter of 2025.
Employment continues to rise
According to the Labour Force Survey for the second quarter, the labour force reached 540,130 people, representing 65.6% of the population, compared with 528,981 people or 65.4% a year earlier.
The number of employed people rose to 520,763, while the employment rate increased to 63.2%, from 62.6% in the second quarter of 2025.
The number of unemployed people fell to 19,367, compared with 22,663 a year earlier.
The 3.6% unemployment rate is the lowest recorded since the fourth quarter of 2008, when it stood at 3.3%.
Services account for most employment
Among people aged 20-64, the employment rate reached 82.8%, compared with 81.7% in the corresponding quarter of 2025.
For those aged 55-64, the employment rate increased to 72.6%, from 71.5% a year earlier.
Services accounted for the largest share of employment at 81.8%, followed by industry at 16.2% and agriculture at 2%.
In the second quarter of 2025, the corresponding shares were 81.2% for services, 16.6% for industry and 2.2% for agriculture.
Part-time employment accounted for 8.7% of total employment, or 45,178 people, down from 9.4% a year earlier.
Youth unemployment also declines
Among young people aged 15-24, the unemployment rate fell to 12.2%, compared with 14.9% in the second quarter of 2025.
The rate stood at 12% for young men and 12.4% for young women.
Of all unemployed people, 62.4% had been looking for work for less than six months, while 16.5% had been seeking employment for six to 11 months.
Long-term unemployed people accounted for 21.1% of the total, unchanged from the corresponding quarter of 2025.
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