IRELAND’S UNEMPLOYMENT RATE dropped slightly last month according to figures released today from the Central Statistics Office.
The Live Register figures show that the number of people signing on fell by 3,600 last month to stand at 360,200 on a seasonally adjusted basis.
However, the number of those aged under 25 signing on in January was 49,289- an increase of 1,361 compared to the December 2014 figure of 47,928.
The National Youth Council of Ireland has expressed disappointment at the increase in the number of young people on the live register.
Commenting on today’s figures James Doorley, NYCI deputy director said: “Youth unemployment year on year is going in the right direction but is still too high at 21.6%.”
‘Long way to go’
At the height of the financial crisis 450,000 people were signing on – today’s figures mark 38 consecutive months of a decrease.
The CSO figures also show that, in gross terms, over 141,000 people left the live register to take up work during 2014.
This means that the exit rate from the live register into work is running at almost 40% – up from 33% in 2012.
The Department of Jobs, Enterprise and Innovation said that every person who leaves the Live Register to take up employment saves the Exchequer approximately €20,000 per annum in reduced social welfare expenditure and increased tax revenue.
The number of long term claimants on the Live Register last month was 164,844.
The Minister for Jobs, Richard Bruton, said:
With unemployment still at 10.5% and many people around the country yet to feel the benefits, we have a long way to go.
“The focus now is to build on and accelerate this, to ensure that every community in the country feels the benefits of the recovery.”
Originally published 2pm
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