Unemployment rate holds steady at 14.3%

THE NUMBER of people signing on the Live Register increased by 100 in April, with the standardised unemployment rate holding steady at 14.3 per cent.

Figures from the Central Statistics Office show that, on a seasonally adjusted basis, 436,000 people were claiming jobseekers’ benefits and allowances in April, some 6,400 fewer than in the same month last year.

The data marked the first time that the number of people signing on has increased for five months, a fact Bloxham Stockbrokers economist Alan McQuaid described as disappointing.

“That said, there have been some positive job announcements on the foreign-direct investment side which provide grounds for optimism, and anecdotal evidence from recruitment agencies points to an increase in job opportunities.”

The number of long-term claimants – those in receipt of benefits for more than one year – increased by 8.6 per cent to 184,053 in the year to April. The number of women in the long-term category increased by 15.4 per cent (6,889) in that period, and the number of men rose by 6.2 per cent (7,744).

The data suggest that emigration is continuing among those aged under 25, with the number from this group claiming benefits falling by 0.3 per cent last month.

The number of people aged under 25 signing on has decreased every month since July 2010.

The percentage of those aged under 25 signing on the Live Register stood at 16.5 per cent at the end of April, down from 18.1 per cent a year earlier and 19.2 per cent in April 2010.

The number of casual and part-time workers claiming benefits has risen by 1.1 per cent since April of last year to 88,442, with the increase largely accounted for by male workers (4.7 per cent).

Foreign nationals accounted for 17.9 per cent (77,015) of the number on the Live Register, a small increase from the figure recorded one year earlier (17.6 per cent).

Small business group Isme said the headline Live Register figures did not reflect the true level of unemployment, which was being under-reported as people were emigrating and entering education and training programmes.

The Government, Isme said, had promised a lot on the jobs front but delivered little during its first year in office.

“They must first realise that a complete overhaul of our competitiveness is where the real work has to be done.”

Separately, European data show that the seasonally adjusted unemployment rate across the euro area increased to 10.9 per cent in March.

Some 17.4 million in the euro area were unemployed in March 2012, an increase of 169,000 or just under 1 per cent on the previous month. Unemployment has risen by 1.7 million or 10 per cent since March of last year.

The lowest unemployment rates were recorded in Austria (4 per cent) and the Netherlands (5 per cent), with the highest rates in Spain (24.1 per cent) and Greece (21.7 per cent).

The unemployment rate among men in the euro area increased from 9.7 per cent to 10.8 per cent in the year to March; the rate among women increased from 10.2 per cent to 11.2 per cent.