The rate of unemployment in Ireland remains stubbornly high within the 14% to 15% range. This bad news has in part been reduced by an increase in the rate of emigration.
The Central Statistics Office has announced that the number of people ‘signing on’ is just under 430,000, down just over 10,000 since the start of 2012. The figures could not mask the increase in the number of those considered to be ‘long-term’ unemployed. Nearly 190,000 of the total unemployed have been claiming benefits for over a year – a 3.3% increase over the year.
The Irish Central Bank estimates domestic growth of only 0.5% in 2013 with GDP growth of 1.3%, a reduction in previous estimates. These numbers do not encourage any belief that the rate of Irish unemployment will decrease any time soon, putting further strain on an Irish economy already struggling with a huge social welfare bill.
European unemployment continues to be a big issue with Spain at a massive 26%, Portugal at 16%, Italy at 11%, France at over 10%, the UK at under 8% and Germany at just under 7%.