New figures from the Central Statistics Office show that the seasonally adjusted unemployment rate for September was 9.4%, down from 9.5% in August.

The seasonally adjusted employment rate for September of last year was 10.9%.

The CSO said the seasonally adjusted number of people who were unemployed stood at 205,300 in September, a fall of 800 from August and a decrease of 28,100 when compared to the same month last year.

Today's figures also reveal that the seasonally adjusted unemployment rate in September was 10.5% for males, down from 10.6% in August and from 12.3% last year.

The seasonally adjusted unemployment rate for women this month was 8.1%, unchanged from the previous month and down from 9.2% in September 2014.

Meanwhile, the seasonally adjusted unemployment rate for persons aged between 15 and 24 years was 20.6% in September, easing slightly from a rate of 20.7% in August.

The jobless rate here compares with a euro zone average of 10.9%.

Merrion economist Alan McQuaid said the Department of Finance has projected that Ireland will pass the two million people in employment mark next year.

It has also predicted that all of the jobs lost during the downturn will be replaced by 2018 and, in total, between 2015 and 2020, a total of 200,000 new jobs will be added.

Net outward migration is expected to cease next year with a return to inward migration from 2017 onwards.

"Last year there was a net jobs increase in the economy of almost 33,000. For 2015 the figure is set to be higher. We are currently looking for a rise of 45,000 to 50,000," the economist stated.

Today's figures are a relatively new set of statistics from the CSO and are designed to provide more detailed and timely Labour Market statistics.

The CSO said the new series contains both monthly unemployment rates and unemployment volumes and is in line with international practice.