NEW FIGURES show no slowdown in job losses. The number of people at work in the April-June period fell by nearly 14,000, the biggest three-month fall in a year, according to the Central Statistics Office. The figures appear to dash hopes that employment growth is at hand.
They show there were 1,783,400 people employed on a seasonally adjusted basis in the second quarter, meaning there are 357,000 fewer people at work since employment peaked in 2007.
Minister for Jobs Richard Bruton last night acknowledged the continued fallout from the collapse of the “bubble economy”, but said “the sectors on which we will build the future economy are now showing signs of growth”.
The CSO’s quarterly national household survey is the most comprehensive source of data on employment across the economy. It shows the downward trajectory in job numbers remains broad-based, with most sectors continuing to shed labour.
There were 13,700 fewer people at work in the April-June period compared to three months earlier when seasonal fluctuations are stripped out. Slightly larger numbers left the labour force entirely in the second quarter. This kept the rate of unemployment stable at 14.8 per cent of the labour force.
The survey shows employment in the construction sector has fallen below 100,000 for the first time since the bursting of the property bubble. It fell by another 4,000 on three months earlier to stand at 99,300. Five years ago, 273,000 worked in the industry. The construction sector has accounted for almost half of the total job losses since 2007.
The financial, insurance and real estate sectors employed 96,100 people in the April-June period. This was a decline of almost 4,000 over the quarter is a new post-crash low.