Jobless Rate Falls To 6.1%

05 Dec 2017 | 01.47 pm

Jobless Rate Falls To 6.1%

138,000 people still have no work

05 Dec 2017 | 01.47 pm

The Central Statistics Office says that the jobless rate has continued to fall, even though it has changed its methodology to revise monthly data upwards, with the unemployment rate falling to 6.1% in November, down from 7.5% a year earlier.

The seasonally adjusted estimate of the number of people unemployed fell by 3,400 between October and November and is down 29,000 compared with November 2016.

Economist Mariano Mamertino of jobs site Indeed said: “The change in methodology introduced by the CSO has resulted in an upward revision of previous monthly data. “Notwithstanding this, the positive downward trend in unemployment continues, and progress to a rate of 6.1% in November is in marked contrast to the continuing stubbornly high rates of unemployment in the southern European countries. In Portugal, unemployment stands at 8.5%, while in Spain (16.7%), Italy (11.1%) and Greece (20.6%) unemployment rates are all still double-digit.”

Recovering employment levels have underpinned consumer confidence, with retail sales data for October up 4.5% on the previous year, and the potential to expand further during the Christmas shopping period. 

The recovery is not benefiting all the country equally, though. The south-west had the lowest unemployment rate of 4.8% based on the most recent regional unemployment breakdown, with numbers in employment growing 6.8% year on year. Performing less well are the Border counties, where numbers in employment are flat and the unemployment rate is at 6.6%. The Midlands has the highest rate of unemployment — over 8%. 

The CSO estimates that seasonally adjusted number of persons unemployed was 138,100 in November 2017.

Comments are closed.