THE NUMBER of people out of work has doubled over the last year to bring the unemployment rate to 10.2 per cent, with signs the private sector is bearing the brunt of the job losses.
During the first three months of the year, the jobless total was 222,800, an annual increase of almost 104 per cent, according to the Central Statistics Office’s Quarterly National Household Survey.
The numbers without work increased by 113,400 over the last 12 months, with men accounting for the majority, or 85,300.
The percentage of working-age people – those between 15 and 64 – employed fell to 63.2 per cent compared to 68.4 per cent a year ago.
Alan McQuaid, economist with Bloxham Stockbrokers, said the figures showed the “reality and severity” of the downturn and that the annual decrease was the largest since the labour force survey began in 1975.
The numbers at work dipped below the two million mark for the first time since the end of 2005 during the first quarter, with 1,965,600 people employed, an annual decrease of 7.5 per cent or 158,000.
A rise in emigration partly explains the discrepancy between the fall in those at work and the rise in unemployment.
The construction sector was hardest hit with 72,200 job losses over the year, a fall of 29 per cent, followed by the retail and motor trade which has seen 30,300 jobs go.
Mr McQuaid said the only sector showing employment growth was the public sector “even though employees in that sector seem to think they have it tough”.
Dermot O’Leary, economist with Goodbody Stockbrokers, agreed saying areas dominated by the public sector such as education, public administration and health “are still seeing increases in employment on an annual basis”.
Those employed in education rose by 11,400 over the period, or by 8 per cent.
Mr O’Leary said Live Register data from April and May suggested the rate of job losses may have slowed and said the second-quarter data could be less severe.
Job losses over the year were unevenly spread among different age groups with those aged between 15 and 34 suffering most with a 13 per cent fall in employment.
Davy Research economist Rossa White said this was a contributory factor in the fall-off in consumer spending as this age group had a higher propensity to spend.
Mr White said there was evidence emigration had increased significantly and noted foreign nationals were suffering higher rates of job losses than natives.
Fine Gael enterprise spokesman Leo Varadkar said the rise was evidence of a failed economic policy and called on the Government to seek agreement with the social partners on restoring competitiveness.
The estimated number of self-employed at the end of March was 332,900, a fall of over 25,000 during the year. During the same quarter last year, the number of self-employed people had risen by almost 28,000. Isme chief executive Mark Fielding accused the Government of creating a climate of uncertainty.
