Fact of the week: long term unemployment share
Posted on September 30, 2014 by Daragh McCarthy
As shown in the latest Quarterly Economic Facts , the long term unemployment share gives the number of people that have been looking for work for 12 months or more as a proportion of the total number of people unemployed. The rate in the Republic of Ireland has risen sharply in recent years, over taking the EU15 average in the final quarter of 2009. The Republic now has the second highest rate in the EU15.
The long term unemployment share in the EU 15, 2014 Q1
The majority of those still looking for work have been searching for over a year. A prolonged absence from the workplace is associated with lower life time earning potential and a myriad of negative social and personal health outcomes. While the unemployment rate has decreased significantly over the past 18 months, Ireland's performance on this indicator suggests a sustained increase in the rate of job creation is needed and funding for relevant work place training should be a priority.