The number of people unemployed fell by over 37,000 so far this year, with the seasonally adjusted rate now standing at 11.1%, down from 11.5%.
Figures from the Central Statistics Office show there was an annual increase in employment of 1.5% or 27,000 in the year to the third quarter of 2014, bringing total employment to 1,926,900.
This compares to an annual increase of 1.7% in the previous quarter.
The increase in the numbers at work was driven by a jump of 26,100 in full-time employment and a rise of 1,500 in those employed on a part-time basis.
The CSO said there has now been eight successive quarters showing an annual increase in employment.
The figures show that employment rose in ten of the 14 economic sectors on an annual basis and fell in the other four in the three months from July to September.
The fastest rate of employment growth was seen in the construction sector, with employment levels up 6.7%, while employment levels rose by 5% in the professional, scientific and technical sector.
Today's figures also show that the long-term unemployment rate is down from 7.6% to 6.4%.
Minister for Finance Michael Noonan said the figures point to a continuing recovery in the labour market with "solid employment growth" of 27,700 in the year to the third quarter and a further reduction in unemployment.
The minister said we are seeing a turnaround in a number of key sectors that are servicing the domestic economy, including construction.
"We have now had eight consecutive quarters of solid annual employment expansion and we have now seen a large increase in employment since the low-point in mid-2012," the minister said.
