Tuesday 26 September 2017

Payrolls down 8.1pc, led by construction

Colm Heatley

Payrolls in Ireland fell 8.1pc in the fourth quarter from a year earlier, led by a slump in construction jobs.

The number of people employed in construction plunged 37pc in the year, the Central Statistics Office said in a report published today.

The unemployment rate slipped to 12.4pc from 12.7pc in the previous three months, and the number of people with jobs was 1.89 million.

While Ireland’s economy is showing some signs of recovery from the recession, unemployment remains close to a 15-year- high. Lloyds Banking Group plans to cut 760 jobs in Ireland, while Aer Lingus Group is also reducing it workforce.

Employment in manufacturing fell 11pc in the fourth quarter from a year earlier, today’s report showed.

Payrolls in the retail, wholesale and financial industries also declined. On a seasonally adjusted basis, the unemployment rate rose to 13.1pc in the fourth quarter from 12.5pc in the third quarter and 8.1pc a year earlier.

The increase in Ireland’s jobless rate has been partly curtailed by immigration. While the overall labour force fell 3.1pc, the number of non-Irish nationals in the labour force dropped 10pc.

According to a separate monthly report published on March 3, the unemployment rate slipped to 12.6pc in February from 12.7pc in January.

Bloomberg

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