The number of people out of work at the end of last month was the lowest May figure for seven years.
Statistics released by the government today reveal that there were 768 people out or work. That’s a drop of 66 from April’s figure and 122 from May 2014.
During the month, 152 signed on to the unemployment register while 218 left.
The unemployment rate is 1.7 per cent. That’s the percentage of the economically active population that’s unemployed.
It compares well internationally.
In the UK it’s 5.5 per cent. The figure for Germany is 6.4; the USA 5.5; Republic of Ireland 9.8 and Greece 25.6.
During the month 701 vacancies were notified to the Job Centre and at the end of the month 320 positions remained vacant.
Of those 70 per cent were full-time positions and 30 part-time.
The reason the unemployed cannot simply slot into those jobs is a skills gap.
For example, there are 114 people with a background in construction looking for work. But at the end of the month there were only 10 vacancies in that sector.
But there were 12 people with qualifications in education out of work but 21 vacancies.
The health sector has 40 vacancies but there are only 18 people with health qualifications looking for a job.
The analysis from the government’s economic affairs division also breaks down the figures by age.
There are 144 people aged 20 to 24 looking for work, while there are only 45 people aged 60 to 64. and 51 aged 40 to 44.
The figures include 14 people who need work permits, 29 who are under 18 and 49 who are signing on for credits only.
They do not include people under 18 who are registered with the Department of Economic Development but who are not claiming any benefit.
In recent years, the highest May unemployment figure was in 1995, when 1,365 were out of work. The lowest was in 2001 when the figure was 154.
In 2008 the figure was 550.