New figures from the Department of Social Protection show that the overall number of people on the Pandemic Unemployment Payment has now fallen to just over 101,000 this week - its lowest level to date.
A total of 101,470 people received the Pandemic Unemployment Payment this week, a fall of 4,775 on last week.
The greatest reduction was seen this week is in the accommodation and food services sector.
At its peak in May of last year, the PUP was being claimed by 605,000 people across a large range of sectors and in total more than 900,000 have received at least one payment at some point over the last 18 months.
The Department also noted that the number of PUP recipients aged under 25 has now fallen from one in four in May to one in ten.
Some €26.3m in PUP weekly payments paid into bank accounts or post offices this week.
The PUP's €350 a week rate was reduced to €300 last month, while the €300 rate fell to €250 a week and the €250 rate was cut to €203 - the maximum rate for Jobseeker's Benefit and Jobseeker's Allowance.
Those who reach the €203 level will be gradually moved over to a jobseeker’s payment.
Further €50 reductions in the PUP rates will take place on November 16 next and February 8 next year.
The PUP closed to new entrants on July 8.
Minister for Social Protection Heather Humphreys said that she expects the number of people claiming the PUP to fall to below 100,000 for the first time next week.
Heather Humphreys also said that for anyone who needs support, training or advice in securing employment, the staff in Intreo Offices are there to help.
"Likewise, I would remind employers about the various supports available to them, particularly when they hire someone who has been unemployed for some time," she added.
She said that since the outset of the Covid pandemic, there has been considerable concern about the impact the loss of employment would have the country's young people.
"In May, one in four people out of work as a result of Covid-19 were aged under 25. Today, that number has now fallen to one in ten - demonstrating the huge progress we have made in terms of re-opening our economy and getting people back to work," the Minister added.
