The Labour market in Ireland has witnessed a spectacular fall since the country entered recession in March 2008. The following stats give an insight into the rapid decline of the labour market.
Average unemployment
2006 | 4.4% |
2007 | 4.5% |
2008 | 6.4% |
2009 | 11.8% |
2010 | 13.6% |
The present rate of unemployment is as of September 2011 14.2%
Many sectors of the Irish economy have witnessed absolute carnage over the last few years. The construction sector, the hospitality industry, DIY stores, garden centres, café’s, night-clubs and many more industries have suffered closure or declining margins. This has resulted in a surge in the amount of people joining the dole queues.
The 25-34 and 35- 44 age group have been hit particularly hard by the recession. These two age groups account for over half the unemployment rate. Stuck with properties in negative equity, large debts, and with a family to support many in these two groups are unable to emigrate unlike those under the age of 25 who are foot loose and fancy free and more freely able to emigrate. The majority increase in the unemployment rate over the past year has been in the 25-34 age group which was 10,900
Many people who have never experienced unemployment, suddenly found themselves unemployed for the first time in their life. The Long term unemployment rate, that is people who are unemployed for over a year has increased to 7.7%
The unemployment rate among countries within the EU 27 stands at 9.8%. Spain has the highest unemployment rate at 21.3% while the lowest rate of 4.6% was recorded in both Austria and the Netherlands.
The largest decrease in unemployment over the year has been in the under 25 category but this can be put down to people mainly emigrating or returning to education.
Non-nationals have also been hit hard by the recession there are currently 46,800 unemployed in Ireland. Many more non-nationals have also had to leave the country with hundreds of thousands leaving due to the collapse of Ireland’s economy.
The fall in employment levels seems to be stabilising all be it at a very high rate. With the prospect of two more tough budgets in the next few years and of the world on the brink of entering a global recession what hope have any of those unemployed ever have of working again.
