Numbers on jobless benefit fell in March

THE NUMBER of people claiming jobless benefits fell in March, and the unemployment rate dipped slightly, new data from the Central Statistics Office showed yesterday.

The seasonally adjusted unemployment rate for March was 14.3 per cent of the workforce, marginally lower than 14.4 per cent in February and down from a recessionary peak at the end of last year of 14.6 per cent.

According to seasonally adjusted figures, there were 3,000 fewer people signing on the Live Register (those in receipt of unemployment benefits) in March compared to a month earlier. The total number of people on the Live Register stood at 434,800 when adjusted for seasonal factors.

The sharp rise in those seeking benefits, which began in 2007, has been broadly stable at about 440,000 for two years.

The number of people formally unemployed stands at approximately 300,000, as measured by the separate Quarterly National Household Survey.

The Live Register includes those working part-time and casual employees, and is thus considerably higher than the survey of those who are classified as formally unemployed.

The number of men signing on fell by 3.4 per cent over the year to 280,243, while an additional 2,843 women were added to the register, for a total of 153,811.

Minister for Jobs, Enterprise and Innovation Richard Bruton said there had been positive signs for the economy but added: “Make no mistake, there is still a lot of hard graft to be done by Government and enterprise working together before we can credibly start talking about corners being turned for our economy and our workers.”

While welcoming the headline decline in unemployment, his Fianna Fáil counterpart Willie O’Dea said: “It’s clear that what the Government has been doing in the form of the jobs initiative and the budget is not having the desired impact.”

Separately, a new survey of activity in the services sector, published by NCB stockbrokers, registered the second consecutive month of growth in March. Earlier in the week a survey of manufacturers also recorded growth.

As expected, the European Central Bank did not cut interest rates yesterday.