June 2010 Unemployment Up

mathie

http://www.cso.ie/releasespublications/documents/labour_market/current/lreg.pdf

Seasonally adjusted Live Register rises to 444,900 in June
The seasonally adjusted Live Register total increased from 439,100 in May to
444,900 in June, an increase of 5,800. See table 2a and graph opposite.
In the year to June 2010 there was an unadjusted increase in the Live Register of
37,420 (+9.0%). This compares with an increase of 43,788 (+11.1%) in the year to
May 2010.

I know that unemployment is a lagging indicator but how long does it take to reflect the corner we've turned according to Lenihan?

George Orwell 1982

mathie wrote: »

http://www.cso.ie/releasespublications/documents/labour_market/current/lreg.pdf



I know that unemployment is a lagging indicator but how long does it take to reflect the corner we've turned according to Lenihan?

Throughout the 80's when unemployment is up at around 18% there was growth every single year bar one. Lenihan et al are talking about a jobless recovery. I would guess it will be at least 3-5 years before we will see unemployment fall below double digit figures.

RichardAnd

George Orwell 1982 wrote: »

Throughout the 80's when unemployment is up at around 18% there was growth every single year bar one. Lenihan et al are talking about a jobless recovery. I would guess it will be at least 3-5 years before we will see unemployment fall below double digit figures.

Agreed and in my opinion, a recovery is not a recovery until people get back to work. But of course, nothing short of another boom will get unemployment back to 2006 levels and that's simply not going to happen for the next decade or two.

dan_d

Yeah but the other thing to remember is that employment in 2006 was at what...almost 100%? That's very rare...you'll always have a certain percentage of the population unemployed ( the infamous bell curve), although I think it normally tends to hover between 4 and 6%. I doubt we'll ever hit 2006 levels again any time in my lifetime......

If we even achieved employment level of 90% for starters, that would be a step in the right direction.

July is coming up - builder's holidays. Expect the dole queues to increase even further.:(

RichardAnd

dan_d wrote: »

Yeah but the other thing to remember is that employment in 2006 was at what...almost 100%? That's very rare...you'll always have a certain percentage of the population unemployed ( the infamous bell curve), although I think it normally tends to hover between 4 and 6%. I doubt we'll ever hit 2006 levels again any time in my lifetime......

If we even achieved employment level of 90% for starters, that would be a step in the right direction.

July is coming up - builder's holidays. Expect the dole queues to increase even further.:(

Exactly, which is why I said only a boom could do it You're right about the builders' holidays though.

dan_d

RichardAnd wrote: »

Exactly, which is why I said only a boom could do it You're right about the builders' holidays though.

Sorry read your post in a hurry!!

RichardAnd

Just to add to this, did anyone see that report on RTE about 9000 people applying for the 500 jobs in the new dublin airport terminal? It's when I see things like this I really shiver. Not to complain but on the 6:01 news, there was a spokes-woman on who described this as "fantastic" because of the interest people have in the "exciting new" project. I don't think there's anything fantastic about 18 applications (on average) to one job.

maninasia

I'd say that's a normal or even below average ratio anywhere around the world.