The unemployment rate fell from 5.1% to 4.8% in April, the lowest level recorded since April 2020, as some 6,300 people reentered the workforce and the country nears full employment amid inflation and geopolitical challenges following the lifting of Covid-19 restrictions.

According to the Central Statistics Office (CSO), the seasonally-adjusted number of persons unemployed was 129,500 in April, down from 135,800 in March and 186,300 in April 2021 -- the latter figure excludes those then on the Pandemic Unemployment Payment (PUP), which was wound down last month.

Some 4.9% of working-age males and 4.7% of females were unemployed last month, both figures down from 5.1% in March and from 7.6% and 7.4%, respectively, a year ago.

There were 69,300 men and 60,200 women in unemployment last month, down from 71,800 and 64,000 in March. Meanwhile, the youth unemployment rate for people aged 15-24 was 5.6%, falling from 7.2% in March, with 4.7% of peopled aged 25-74 unemployed (4.8% in March).

Jack Kennedy, economist at jobs website Indeed, commented: "The unemployment rate was lower in April at 4.8% despite the economy being in an uncertain period given the potential impact of the war in Ukraine, and the escalating concerns about inflation and the cost of living.

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"The rate of inflation rose to 7.3% last month with energy and food costs two areas of particular pressure. Whilst this hasn’t yet had any noticeable impact on the strength of the labour market in Ireland, it may impact economic confidence over time and could stoke wage expectations."

He added that research indicates that employee satisfaction was more closely tied to access to flexible working and a better work-life balance than pay, with 93% of people answering an Indeed/Kelloggs survey agreeing that they would like to work for an employer who supports and encourages a greater work-life balance.

"Despite the labour market uncertainty, employers are still actively hiring, with the level of Irish job postings on Indeed up 52% at 29 April 2022, compared to 1 February 2020," Kennedy continued.

"Against this competitive backdrop for talent, employers who demonstrate flexibility and offer compelling benefits over and above the basic remuneration package will be best placed to succeed."

(Pic: Getty Images/Getty Images)