Figures show jobs growth highest in three years

The Irish economy created 65,200 jobs in 2004, the highest rate of job creation since 2001 according to the latest labour market…

The Irish economy created 65,200 jobs in 2004, the highest rate of job creation since 2001 according to the latest labour market survey.

The latest edition of the Quarterly National Household Survey shows there were 1,893,600 people in employment in November  2004, an increase of 3.6  per cent in the year.

This is the highest level of annual growth in job creation recorded since the 3.8 per cent in the first quarter of 2001.

The survey reveals a noticeable improvement in the quality of jobs created. While the previous two year's job creation data was slightly flattered by the public sector recruitment, the vast majority of employment growth in 2004 stemmed from the private sector.

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The key role played by the building boom in the recent return to prosperity is borne out by the rate of jobs growth in construction.

The construction sector was the fastest growing employer creating 19,100 jobs in 2004, a rise of 10 per cent over the year. The numbers employed in financial services continued to grow strongly throughout the year with an annual increase of 16,400.

Employment in other services (+11,000), wholesale and retail trade (+8,900) and health (+6,700), also showed strong growth in the year.

Increases in the numbers in full-time employment accounted for almost 90 per cent of the annual change, according to the survey.

There were 93,900 persons unemployed in the third quarter, representing a decrease of 4,900 in the year. The seasonally adjusted unemployment figure stood at 86,600, representing a decrease of 1,500 in the quarter.

The seasonally adjusted unemployment rate was 4.4 per cent.

The female participation rate increased from 50.7 per cent to 51.0 per cent in the year with the male rate also increasing from 72.2 per cent to 72.8 per cent over the same period.