Sunday 18 March 2018

Unemployment rises to 14.3pc in the past year – CSO

Ed Carty and reporters

Unemployment has increased by almost 11,000 in the last year taking the rate to 14.3pc, new figures reveal.

There were 304,500 people out of work during the summer from a labour force of 2.1m, the Central Statistics Office (CSO) said.

The report found the unemployment rate had jumped from 13.6pc to 14.3pc in the 12 months to the end of June.

Those out of work for a year or more, the long-term unemployed, account for half of those out of work with the rate up to 7.7pc from 5.9pc year-on-year.

Economists said the figures reflect that difficulty facing the Government in getting the problem under control.

“Today’s figures show that the labour market remains very weak, and things are likely to get worse before they get better given the current slowdown in the world economy,” said Alan McQuaid, chief economist at Bloxham Stockbrokers.

“So any steps the government can take to boost employment would be very welcome.

“It now looks like the unemployment rate will peak not far off 15pc.”

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