Business Irish

Sunday 21 September 2014

Ireland has fifth highest jobless levels in global survey

Anne-Marie Walsh, Industry Correspondent

Published 10/04/2014 | 02:30

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People queue down Cumberland Street, Dun Laoghaire, to collect their social welfare payments
People queue down Cumberland Street, Dun Laoghaire, to collect their social welfare payments

IRELAND'S unemployment rate ranks among the top five in a global survey of 34 countries.

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The new report reveals the country has the fifth highest level of people out of work in the Organisation for Economic Co-operation and Development (OECD).

Spain has the highest rate of 25.6pc, followed by a 15pc rate in Portugal, and 13.9pc rate in the Slovak Republic.

The fourth highest rate was in Italy, at 13pc, when the figures were compiled in February this year.

Ireland's rate stood at 11.9pc in February and 11.8pc last month.

It's far ahead of the rate of unemployment for our closest neighbour, the UK, at 7pc, and the US at 6.7pc.

The latest official figures show there are 396,900 people signing on in this country.

This compares with the over five million people who are out of work in Spain, although Spain has a population of over 47m.

STABLE

The report shows there was a small rise of just 0.1pc to 7.6pc in the unemployment rate across all 34 OECD countries.

This followed three consecutive months when the rate had dropped.

A total of 46m people have no job across the OECD, 3.8m fewer than at the peak of unemployment in April 2010.

However, this is still over 11m more people than were on the dole queues in July 2008, before the economic collapse.

In the euro area, the unemployment rate was stable at just under 12pc, for the fifth month in a row, but the rate rose slightly in the Netherlands, France and Italy.

The unemployment rate dropped in Spain, Austria and the Slovak Republic, but only slightly.

In Germany, the rate remained stable at just over 5pc.

The report shows exceptionally high levels of unemployment among the under-25s in many countries.

The unemployment rate for young people in Greece is at 58pc, 53pc in Spain, 42pc in Italy, 35pc in Portugal, and 32pc in the Slovak Republic. Ireland's rate is 29pc.

Irish Independent

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