New figures from the Central Statistics Office show that the unemployment rate fell to a 10-year low of 5.3% in November.

This was down from a revised rate of 5.4% in October and 6.4% in November of last year.

Today's seasonally adjusted CSO figures show that the number of people who were unemployed stood at 127,600 in November.

This compared with a figure of 130,100 in October and a decrease of 23,700 when compared to November 2017.

The country's jobless rate has fallen from the financial crisis-peak of around 16% in 2012, when Ireland was midway through a three-year international bailout.

It is also much lower than the euro zone average of 8.1%.

Today's figures show the seasonally adjusted unemployment rate for men stood at 5.3% in November, down from 6.8% the same month last year.

The seasonally adjusted unemployment rate for women was 5.4%, down from 6% in November last year. 

Meanwhile, the seasonally adjusted youth unemployment rate fell to 12.3% in November from 12.9% in October.

Commenting on today's figures, Merrion economist Alan McQuaid said that while emigration has been a factor to some degree in keeping unemployment down since the financial crisis, the labour market has improved dramatically over the past few years, reflecting the strengthening of the economic recovery.

He predicted that the average jobless rate is projected at 5.7% for 2018, down from 6.7% in 2017. 

"A further fall, to 5%, is envisaged for 2019, with a net increase in employment of around 50,000," the economist added.