The seasonally-adjusted unemployment rate rose from 5.2% to 5.5% in March, as just under 9,000 people entered unemployment last month, figures from the Central Statistics Office (CSO) show.

There were 146,400 persons unemployed in March, compared to 135,200 in February and 188,500 in March 2021 when unemployment was measured at 7.7%.

The data comes a day after the remaining 44,750 claimants in receipt of the Pandemic Unemployment Payment (PUP) received their final payment. Over €9bn in PUP payments have been made in the past two years.

PUP claimants deemed eligible will transition to standard jobseekers' payments and, if they don't find work, be counted in next month's unemployment statistics.

Indeed economist Pawel Adrjan commented: "Despite Covid-19 still being with us, from a labour market perspective we have moved into a post-pandemic phase, with the ending by the government yesterday of any further Pandemic Unemployment Payments."

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"Indeed’s data continues to show employers very actively hiring, with the level of Irish job postings on Indeed up 60% at 1 April 2022 compared with 1 February 2020."

The seasonally adjusted unemployment rate was 5.3% for males and 5.8% for females in March, up from 5,0% and 5.4% in February.

Some 73,200 men and 73,100 women were counted as unemployed last month, compared to 67,700 and 67,400 in February. The seasonally adjusted employment rate for people aged 15-24 declined from 12.7% to 12.3% month-on-month while the rate for people aged 25-74 rose from 3.9% to 4.4%.

Adrjan said rising inflation, and higher energy costs, were "of particular concern" and that employers should brace themselves for higher wage demands.

"In 2021 average earnings growth was 4.8% and in a recent bulletin the ESRI warned that the increased growth in job vacancies is putting upward pressure on wages in 2022. It remains to be seen to what extent workers will look to be compensated for the rising cost of living," he added.

(Pic: Getty Images)