RTE 2/10/2018 05:30:07 A report released by the OECD this week shows that the economic data cycle for the week ended in March 2018 has finally ended.
The data has been revised back to 2018 and a new cycle begins next year.
The report, entitled The Economic Data Cycle for the Week Ending March 2018, showed that the average number of jobs created per week during the year fell from 2.34 million in March 2017 to 1.88 million in February 2018.
The average number in February 2017 was 2.14 million, but the number of people employed per week dropped from 2,052,000 to 1,937,000.
The OECD report showed that during the three months to February 2018, the number and average duration of workdays was unchanged from March 2017.
However, there were two days that saw the number increase to an average of 7,731,000, compared to 5,984,000 in the same period a year ago.
On a monthly basis, the economy grew by 1.7% on a seasonally adjusted basis.
The number of job vacancies fell to 5.8 million from 6.1 million in the previous three months.
The number of unemployed people rose to 9.6 million from 9.1 millions in the period to March 2018.
However, the total number of employed people remained steady at 11.3 million, with a rise of 1.4 million in January to 12.3.
This was partly due to the increase in the number from the previous quarter of 1,000 jobs.
The economy was also able to absorb the drop in jobs during the previous two months, with unemployment falling to 6.6% from 6% in January.
The unemployment rate fell to 6% for the first time in six months.
However in February, the unemployment rate rose to 10.4%, with 6.7 million people out of work.
This is partly due, in part, to the increased participation of the unemployed.
The rate of unemployed in the last two months fell to a record low of 4.1% from 5.6%.
The number and duration of working days increased to an all-time high of 11,000 from 10,000 the previous month.
However the average duration for all working days fell to 7.1 days from 7.3 days a year earlier.
In February, a total of 13.2 million hours of work were recorded in the economy, with 5.7 days being the new record high.
However there was also an increase in leisure and hospitality spending, with an increase of 3.4% to 4.5%.