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Unemployment… June 7, 2012

Posted by WorldbyStorm in Economy, Irish Politics.
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Reading that the unemployment rate is still increasing and is currently just shy of 15 per cent, at 14.8 per cent (and remember, this is masked to some degree by various schemes so one can assume it is considerably higher) it set me looking at the 1980s.

Interesting to note that in 1979 the rate was 7 per cent. But in 1986 it peaked at 17 per cent. Disturbing to think we’re just two points less than that now. There’s also some interesting issues as regards composition of the current figure and how much is long term, as against (so far) short term unemployment. The impact of emigration is another factor and the nature of those schemes mentioned above.

Also interesting to reflect that twelve years ago in 2000 the figure fell below 4 per cent. Close enough to many economists definition of ‘full employment’.

Comments»

1. dilettante - June 8, 2012

And also “masked to some degree” by mass emigration surely?

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2. GM - June 8, 2012

Maybe 4% for Ireland was really “bubble employment” – not justified by the reality of our economic capabilities.

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3. Keeping Paddy In His Place « An Sionnach Fionn - June 8, 2012

[…] short but very sobering post from WorldByStorm over at the Cedar Lounge Revolution: “Reading that the unemployment rate is […]

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