Unemployment is up

wiseguy

http://cso.ie/releasespublications/documents/labour_market/2011/lreg_may2011.pdf

The standardised unemployment rate in May 2011 was 14.8%, up slightly from a rate of 14.7% in April. The monthly increase in the standardised unemployment rate was caused by an increase of 2,600 (+0.6%) in the seasonally adjusted number of persons signing on the Live Register.

So whatever happened to the we "turned a corner" threads on past CSO unemployment figure releases?

themadchef

Those who have money are still afraid to spend, those out of work dont have it to spend and those caught in the middle are being squeezed within an inch of their budget.

Jobs wont come until people start spending, people cant spend what they dont have, or wont spend where there is no confidence \ security.

Catch 22.

Without a massive push and investment of money we dont have in job creation, we really are screwed. The jobs are not just going to magically appear.

wiseguy

themadchef wrote: »

Those who have money are still afraid to spend, those out of work dont have it to spend and those caught in the middle are being squeezed within an inch of their budget.

Jobs wont come until people start spending, people cant spend what they dont have, or wont spend where there is no confidence \ security.

Catch 22.

Without a massive push and investment of money we dont have in job creation, we really are screwed. The jobs are not just going to magically appear.

Partially agree with you,
but
I think the economy will not start to improve until people know there is no more taxes coming down pipeline, their savings are safe and there be no more cuts in services.
For people to be optimistic and spend they need things to be optimistic about, all we get are constant news of more taxes and cuts.
Just get it over and done with so everyone can get on with their lives and not be in constant fear and worry of their future.

Count Dooku

themadchef wrote: »

Those who have money are still afraid to spend, those out of work dont have it to spend and those caught in the middle are being squeezed within an inch of their budget.

Jobs wont come until people start spending, people cant spend what they dont have, or wont spend where there is no confidence \ security.

Catch 22.

People wont spent because taxes will only increase, if people wont spent, then more people will lose jobs and taxes will have to increase more in order to pay benefits to more people

Catch 22 again

Tea drinker

wiseguy wrote: »

Partially agree with you,
but
I think the economy will not start to improve until people know there is no more taxes coming down pipeline, their savings are safe and there be no more cuts in services.
For people to be optimistic and spend they need things to be optimistic about, all we get are constant news of more taxes and cuts.
Just get it over and done with so everyone can get on with their lives and not be in constant fear and worry of their future.

Constant drone of bad news in the media is affecting the populace.
same as when the constant feel good BS was pumped for years and manipulated the market, encouraged bad financial decisions etc.

While we have certainly got rid of the feel good factor, we have quite some way to go with reducing the personal debts, though I'm sure those that can are paying things down. There may be as many who feel the pinch and are still borrowing (somehow) and I have no idea if we make progress on personal finance. Until people get some buffer they will spend little if at all.

hinault

Count Dooku wrote: »

People wont spent because taxes will only increase, if people wont spent, then more people will lose jobs and taxes will have to increase more in order to pay benefits to more people

Catch 22 again

Not to mention peoples high level of legacy debts (credit card debt, personal loan debts).

Delancey

I cannot see how unemployment can be expected to top out at 15% - falling retail sales , falling house prices , sharp slowdown in the growth of industrial activity all point to a further deterioration - I think 16% + will be hit before we see any sort of sustained fall.

dan_d

I wouldn't be surprised if unemployment is already at 15%....the live register is indicative at best.

Duffy the Vampire Slayer

And it has to be remembered that this is AFTER large numbers of people have emigrated.

Rabidlamb

Duffy the Vampire Slayer wrote: »

And it has to be remembered that this is AFTER large numbers of people have emigrated.

Plus the ones that just fall off the register after a year of JSB cause their partner is working.

WIZE

Is this not because the CAO had mostly unemployed people doing the Census jobs and now they have signed back on

RichardAnd

WIZE wrote: »

Is this not because the CAO had mostly unemployed people doing the Census jobs and now they have signed back on

I believe you mean the CSO But yeah, that would probably account for some percentage of the increase. Let's not forget what time of year it is; end of term. In a few weeks we'll have thousands of graduates leaving college of which most have not a snowball's chance in hell of landing a job. I'd expect the unemployment to rise again over the next two months.

ei.sdraob

RichardAnd wrote: »

I believe you mean the CSO But yeah, that would probably account for some percentage of the increase. Let's not forget what time of year it is; end of term. In a few weeks we'll have thousands of graduates leaving college of which most have not a snowball's chance in hell of landing a job. I'd expect the unemployment to rise again over the next two months.

"seasonally adjusted" is the keyword in the report as always

filthymcnasty

Wouild anyone know is 14.8% the highest its ever been? ie since foundation of the state,(sorry I can't find a stat.)

Duffy the Vampire Slayer

filthymcnasty wrote: »

Wouild anyone know is 14.8% the highest its ever been? ie since foundation of the state,(sorry I can't find a stat.)

It was around 17% in the mid-80s.

spank_inferno

It did seem odd the sucessive governments saying the "corner was turned" considering the unemplyment rate has only steadied because of emigration.

of the 50k leaving now annualy I'd say at least half of them would have been on the live register had they stayed.

Owldshtok

Duffy the Vampire Slayer wrote: »

It was around 17% in the mid-80s.

No it was worse.I remember the figure in 1985 (the year I did the leaving cert) was 22%.It got even worse in '86 (23% or something) before going back down.

thebman

Students starting to finish college I imagine.

Owldshtok

Owldshtok wrote: »

No it was worse.I remember the figure in 1985 (the year I did the leaving cert) was 22%.It got even worse in '86 (23% or something) before going back down.

Highest was December 1985 - 17.30%
http://www.tradingeconomics.com/ireland/unemployment-rate

Nice adjustable graph in the link too!!

cosmicfart

Duffy the Vampire Slayer wrote: »

It was around 17% in the mid-80s.

is that true?? reports say todays figures are our 'highest' ever since the potato famine!

The Scientician

New report: Pessimism at all time high.

Duffy the Vampire Slayer

cosmicfart wrote: »

is that true?? reports say todays figures are our 'highest' ever since the potato famine!

According to the figures I seen anyway. I wasn't alive at the time however and I don't really know.

later12

cosmicfart wrote: »

is that true?? reports say todays figures are our 'highest' ever since the potato famine!

There was no reliable unemployment measurement, no live register and no unemployment benefit. What reports you are referring to?

cosmicfart

Duffy the Vampire Slayer wrote: »

According to the figures I seen anyway. I wasn't alive at the time however and I don't really know.

me neither whatever the figure today though it dont make for good reading

Owldshtok

Deleted User wrote: »

Highest was December 1985 - 17.30%
http://www.tradingeconomics.com/ireland/unemployment-rate

Nice adjustable graph in the link too!!

Ok thanks for that! Must have heard it wrong at the time,the 22% figure certainly stuck in my head..or they were forecasting the higher figure,or it was a seasonal figure or something.

Owldshtok

Owldshtok wrote: »

Ok thanks for that! Must have heard it wrong at the time,the 22% figure certainly stuck in my head..or they were forecasting the higher figure,or it was a seasonal figure or something.

Maybe there was something on the news or radio at the time sayin officially its 17% but its probably 22% including fas courses or something.....its possible your remembering something like that

Dannyboy83

Was said today on the radio that the real unemployment rate is running @ over 20%

Just thinking of all the people I know who've graduated recently, almost all, discluding those emigrating, have opted to do further education.
They would work if there was work there, but............At least they'll be well qualified emigrants.

dan_d

As I said earlier, the Live Register is just indicative.A guideline.

There's no way in hell our unemployment rate is at 14.8%. Not a chance. It's a good bit higher than that.

But it's ok, because we don't have official statistics that show that, so it can't be true in political land.

I still maintain that the recent census would give a much better gauge of the actual unemployment rate.

fat__tony

I left the country for Canada 3 weeks before the IMF came calling last November.

When I look at the current rate of unemployment I feel its the best decision I ever made.