The unemployment rate dipped below 9pc last month for the first time since late 2008.

The jobless rate was 8.9pc in October, and was 9.1pc for the months of July to September inclusive, according to data from the Central Statistics Office.

Finance Minister Michael Noonan said employment levels have now increased by 140,000 since 2012.

“In parallel, the unemployment rate has fallen for nine consecutive quarters and now stands at 9.1pc,” the minister said.

“The unemployment rate for October has been revised downward to below 9 per cent, comparable to levels last seen in December 2008. Moreover, the observed solid declines in long-term unemployment are particularly encouraging.”

The CSO said there was an annual increase in employment of 2.9pc or 56,000 in the year to the end of September,, bringing total employment to 1.98 million.

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