Live register numbers at four-year high

rte.ie/news/2008/0111/employment.html

The numbers of people signing on the live register continued to increase in December, according to the Central Statistics Office.

The numbers of people signing on is at a four-year high and the unemployment rate is at a five-year high.

Last month there was a seasonally adjusted rise of 2,100 in the numbers of people signing on.

AdvertisementOf those, 1,900 were men and 200 were women - an indication that lay-offs in the construction industry could be responsible for a large part of the rise in numbers.

The development brings unemployment rates to 4.7 in December, the highest level since 2003.

November saw the biggest rise in six years when an additional 5,000 signed on.

Rising unemployment has been expected as economy slows.

In the Budget, the Department of Finance forecasted that unemployment would rise to 5.6% this year.

All predicted on the Pin.
If people here knew it why did the simple minded economists not see it coming?
After all, they are paid to. :unamused:

Piece on ireland.com says januarys figures when they are out will show another sharper rise ( ireland.com/newspaper/breaki … king36.htm )

“We expect a sharper jump in the register in January, as many housebuilders join the dole queues,” Davy economist Rossa White said in a research note. “We have heard from our contacts that many housebuilders or related workers were not re-employed after Christmas.”

There is always this niggling feeling that the Stock Market is not as efficient as some people would like us to believe. The ISEQ at 6,660 is stuck in Nov 2005. Do staff losses predate negative financial returns or maybe it is a cue for the Stock Market to rebound?

In fairness, the employment figures have been holding up pretty well so far. Remember all the predictions re black monday back in August. Still, it does seem inevitable that the figures will continue to creep upwards if the December homebond figures are indicative of the overall trend

Plus a lot of companies don’t really care if people have jobs or not – that’s poor little government’s problem. As long as the company is making money (either domestically or abroad) unemployment figures don’t really matter too much. Just look at the social changes in the US!

Largest Rise in December = Leitrim
Largest Number of empties in Ireland = Leitrim

I’ll say there is a correlation !