Unemployment below 9 per cent for first time since 2008

RecruitAuto.ie has welcomed the latest official employment figures from the Central Statistics Office, showing that the unemployment rate has hit 8.9 per cent, the lowest rate since the end of 2008, and down from a high of 15.1 per cent in February 2012.

Ireland’s specialist auto industry jobs portal is very pleased that the total number of people unemployed moves below 200,000 for the first time since end 2008. Indeed, the summary shows that 56,000 extra jobs were created in the past 12 months.

The figures published today also show that jobs have grown in all 8 regions since the Action Plan was launched, with strongest percentage increases not in Dublin or Cork but in the South East (14.4%), the Midlands (13.8%), and the Border (12%)

The number of people in part-time employment fell in the past 12 months, meaning that the numbers in full-time employment actually increased by 59,400. Employment grew in 12 out of 14 economic sectors, with largest increases in construction and industry

The number of people long-term unemployed has fallen from 6.4 per cent to 5 per cent in the past year and it has declined from 204,300 when the Acton Plan was launched in early 2012 to 109,800 today, a decrease of 46 per cent in the long-term unemployment rate.

Of course, this all allows the State to grow tax revenues and reduce recurring social welfare exposure. It also ultimately improve services and cut taxes, and means there is more disposable income in circulation to stimulate the economy further.

While there is more optimism about than existed only a year ago, it vital that the Government don’t mess-up in the rush to get re-elected and effect competitiveness, thus impeding the ability of businesses and industry to deliver a lot more jobs in the year ahead.

Check-out the auto trade job vacancies now available on: www.RecruitAuto.ie