Unemployment rate continues to fall but a lot more work to do – Minister Bruton

1st April, 2015


Ahead-of-target job-creation having a major impact on reducing unemployment rate

Unemployment rate decreases in all 8 regions, with largest fall in Mid West

01 April, 2015

The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today welcomed the new live register figures published by the CSO, showing that the unemployment rate has hit 10% for the first time since early 2009.

The figures published today also show:

· Annual decreases occurred in all of the eight regions with the largest percentage decrease occurring in the Mid-West region (-13.1%) followed by the Dublin region (-11.8%) and West and South-West (-10.8%) · On a seasonally adjusted basis, 4700 people left the live register in the month · The standardised unemployment rate is now at 10.0%, marking 40 consecutive months of decrease, and down from a high of 15.1% in February 2012, when the Government launched and started implementing the Action Plan for Jobs
The figures also show that, in gross terms, 141,416 people left the live register to take up work during the last 12 months. This means that the exit rate from the live register into work is running at over 40% – up from 33% in 2012. This provides an indication of the level of churn in the labour market and the degree to which new jobs opportunities are impacting on the numbers of people on the live register.
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, and helps to create a reinforcing cycle of positive economic benefits.
Speaking today, Minister Bruton said:
“Every job created is a life back on track, a family improved, a community changed. And it is only through sustained job-creation that we can grow tax revenues and ultimately put money back into people’s pockets through income tax cuts. That is why since day one this Government has placed jobs at the heart of everything we do, through the Action Plan for Jobs and Pathways to Work strategies.

“Recent CSO figures show that since the launch of the Action Plan for Jobs in 2012, an extra 90,000 jobs have been created in net terms. This means that we are likely hit the target of 100,000 extra people at work, set at the time of the launch of the Action Plan for Jobs, more than a year ahead of schedule.

“Today’s publication from the CSO, showing that the unemployment rate has hit 10% for the first time since the crisis, marks a further welcome step on the road to full employment. However there are still far too many people unemployed, far too many families who have still not felt the benefit of the fragile recovery which is underway.

“Our goal is sustainable full employment – a job for everyone in the country not just in 2018, but for years and decades to come. Twice in my lifetime I have seen full employment achieved, only to be squandered through poorly planned, boom-bust policies. I am determined to put in place plans to ensure that doesn’t happen again.

“Today’s figures give us further confidence that if we continue to implement our plans, we can deliver sustainable full employment, and ultimately improve people’s lives right across the country”.