Workforce grows by 3.9% this year

The number of people in the workforce grew by an annual rate of 3

The number of people in the workforce grew by an annual rate of 3.9 per cent to the end of the second quarter, new figures show.

The Central Statistics Office report also found the number of new workers arriving in Ireland is continuing to fuel the employment boom.

The figures published today show there were 2,095,400 people in employment in the second quarter, an increase of 78,400.

Over 52 per cent of the demographic increase can be attributed to those aged 25-34, the age group most affected by inward migration
CSO

This compares to an annual growth rate of 3.8 per cent in the previous quarter and to a rate of 4.6 per cent in the second quarter of 2006, the CSO said.

READ MORE

According to the latest figures, the number of women in the workforce increased by over 44,000, or 5.2 per cent, accounting for almost 57 per cent of the overall increase in employment.

The number of men at work increased by just under 34,000, or 2.9 per cent.

Part-time employment increased by 27,500 and accounted for just over 35 per cent of the overall annual change.

The CSO said demographic factors - such as the increase in the number of people of working age in the population -

continued to fuel labour force growth, accounting for just under 64,000 of the 85,800 people who joined the labour force in the year to the second quarter of 2007.

Net inward migration accounted for around 70 per cent of this demographic increase.

"Over 52 per cent of the demographic increase can be attributed to those aged 25-34, the age group most affected by inward migration," a CSO analysis said.

The figures are taken from the latest Quarterly National Household Survey results.

Business lobby group Ibec said the figures showed the Irish labour market continued to perform well in the second quarter and that this "augurs well for economic growth in 2007".

Ibec senior economist Fergal O'Brien said: "Although there are some signs in the latest figures that employment growth has peaked and some jobs losses occurred in construction, total job creation for the full year should remain strong at about 60,000."

"Financial services employment growth was particularly strong in the period and accounted for almost a quarter of the new jobs created in the past year," Mr O'Brien said.