Tags: Ireland | economy | unemployment | eurozone

Irish Unemployment Rate Dips to 13.5 Percent

Wednesday, 31 Jul 2013 07:41 AM

Ireland's unemployment rate retreated last month to the lowest level since April 2010, official data showed on Wednesday.

"The standardized unemployment rate in July 2013 was 13.5 percent, down from 13.6 percent in June 2013," the Central Statistics Office said in a statement.

The figure represents the lowest rate for more than three years, and is well down from the high point of 15.1 percent in February 2012.

"In unadjusted terms there were 441,976 people signing on the Live Register in July 2013. This represents an annual decrease of 18,347," the CSO added.

The Live Register is not designed to be a fully accurate measure of unemployment, however, because it includes part-time workers and casual staff entitled to benefits in a country with a population of 4.6 million.

Ireland is struggling to get large swathes of its population back to work, with its Department of Social Protection, which pays benefits, the heaviest drain on the country's coffers.

Dublin aims to become the first bailed-out eurozone member to exit an EU/IMF bailout later this year, but another austerity budget of tax hikes and spending cuts is expected in October.

Last month, however, official data showed Ireland was officially back in recession and last week the country's Central Bank cut growth predictions for 2013 by almost half to 0.7 percent.

© AFP 2017

 
1Like our page
2Share
Markets
Ireland's unemployment rate retreated last month to the lowest level since April 2010, official data showed on Wednesday.
Ireland,economy,unemployment,eurozone
218
2013-41-31
Wednesday, 31 Jul 2013 07:41 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved