Unemployment Drops in October!
The standardised unemployment rate in October was 12.5%.The drop in unemployment comes after 30 consecutive months of increases. The total Live Register figure for the October was 412,407, a drop of 7,447 on the previous month, but an increase of 161,727 year-on-year.
This is the first positive piece of news about Jobs in Ireland. It needs to be taken with the caution and understanding of the overall picture.
The Live register figures show 67,207 job losses year to date. Therefore we are far from what the news here and abroad are saying – that we are coming out of the recession. The reality is that we are at the bottom. And also – we will be happy if this really is the bottom. If this is not just a single month where unemployment growth paused for a month.
The following unemployment graph puts us well into the perspective – a reality check of the status of the economy.
The calendar quarter estimates for Q2 2009 (adjusted for seasonality) are:
I’m looking forward for better results by next year and for the years coming. I have a friend who was laid off in Ireland this year.
Thanks for sharing guys. 12.5% is better than nothing