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Irish Unemployment Hits 440000

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http://www.independent.ie/national-news/ir...gh-1875197.html

Irish jobless total hits 440,000 while eurozone at 10-year high

By Fionnan Sheahan and Aoife White

Wednesday September 02 2009

The unemployment rate has hit 440,000 and now stands at 12.3pc, new figures will show today.

However, the rate of increase in the number of jobless slowed down last month.

The latest Live Register figures will be published after a report showed the jobless rate in the 16 countries that use the euro climbed to a new 10-year high of 9.5pc in July.

This was despite the fact that there are fresh signs the economy is starting to recover. Ireland is second only to Spain in the eurozone in its unemployment rate.

The Cabinet discussed the Live Register figures at its meeting yesterday.

They show the rate of unemployment in this country at 12.3pc -- up marginally on last month.

Across Europe, rising unemployment amid continuing price falls is likely to leave the European Central Bank holding its key interest rate steady at 1pc at its meeting tomorrow.

The unemployment rate in the eurozone rose from 9.4pc in June, with 167,000 more people seeking work in July, the EU statistics agency Eurostat said.

The increase comes despite data showing that the recession in the region is easing.

Improved

The French and German economies unexpectedly grew in the second quarter and optimism among business and consumers has improved as companies start to restock after a spending freeze, and as shoppers benefit from lower prices for their energy and food.

Still, joblessness continues to rise steadily: from July last year, some 3.26 million jobs have vanished in the bloc. Unemployment is considered a trailing indicator, meaning it lags well behind changes in the economy.

Strengthening growth and accompanying inflation would lead the bank to raise interest rates from their record lows.

But this week's price and jobs data suggest that remains a long way off.

Unemployment in the entire 27-nation European Union rose to 9pc in July, from 8.9pc a month earlier.

Some 21.79 million workers did not have a job, 225,000 more than in June.

Collapse

Spain leads the European nations' league table with nearly one in five workers without a job -- and an unemployment rate of 18.5pc -- as the collapse of a housing boom and a slowing tourist industry cut jobs among two of the country's biggest employers.

Younger Spanish workers are worst affected, with nearly four in ten out of work -- or 38.4pc of under 25-year-olds in the work force.

In the eurozone, Ireland follows Spain with unemployment over 12pc, while France has 9.8pc.

Germany posted unemployment of 7.7pc, according to International Labour Organisation standards -- one of the lowest increases in the jobless rate over the past year, up from 7.2pc in July 2009.

Germany's own measure of unemployment, which tends to count more people as jobless, stands at 8.3pc.

Edited by AvidFan

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Strange thing is, Dublin doesn't feel that different. I think unemployment has hit small villages and towns worse than the cities, because a huge number of young men were involved in building houses in the middle of nowhere / on a couple of acres their Dad gave them to try and give them an option to stay at home. Also, a lot of the people involved in construction and other fluff work in Dublin have buggered off home (down the country/eastern Europe). Anecdotally, I hear of many people back home living with Mammy in Ballynowhere. So rentals have been hit bad (yaay!) and you see a lot of boarded up shops, but otherwise, not too bad. Not like the 80s (yet!). Then again, I don't much venture into the suburban hell that is west Dublin.

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It's not so bad at the moment as the dole is 205 euros a week , once that gets cut it'll be much less fun ;)

That's surprisingly high unemployment benefit. Do they get housing benefit on top of that?

If they haven't cut it already, why not?

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Is it 440,000 unemployed or 12% unemployed

because as the Rep. of Ireland's entire population is 4.15 million, 12% of the working population would be a lot less than 440,000

however if it was 440,000 I suggest you're looking at 20%

Usual slipshod journalism in any case

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I'm just think it would be worth moving to Ireland if you become unemployed, I thought EU rules allowed you to look for work anywhere?

Yep I agree, and I think Ireland would be a very good place to live. May be your 4 kids might not like it though?

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Confess your sins

Forgive me father for I have sinned, I have taken on way, way to much debt, more than I can ever realisticly hope to payback, there seems no way to pay it back, but I don't think I can go bankrupt either. I'm afraid I've ruined the whole rest of my life as my economic situation is structurally flawed in its entirity.

Father: Welcome to Ireland, you'll fit right in.

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Is it 440,000 unemployed or 12% unemployed

because as the Rep. of Ireland's entire population is 4.15 million, 12% of the working population would be a lot less than 440,000

however if it was 440,000 I suggest you're looking at 20%

Usual slipshod journalism in any case

Entire population WAS 4.15m.

Unfortunately it declined by around 20% in the last year :ph34r: .

Tax base and public finances are a disaster.

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Younger Spanish workers are worst affected, with nearly four in ten out of work -- or 38.4pc of under 25-year-olds in the work force

Good lord. That's appalling. :(

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Yes but in spain and italy the black economy is huge and skews the unemployment figures higher

That was traditionally true before. But with the speed with which unemployment is rising, it may be that there are simply no jobs this time. 20% would be a minimum unemployment rate if budgets were balanced.

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Guest sillybear2
It's not so bad at the moment as the dole is 205 euros a week , once that gets cut it'll be much less fun ;)

:blink: I have a nasty feeling that doesn't include housing benefit or council tax.

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