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Posts in the "Jobs" category

Youth unemployment and changes to Jobseeker's Allowance

Posted on September 17, 2014 by Daragh McCarthy

Currently, there are 24 unemployed people for every job vacancy. This is a problem for everyone looking for work, but makes it particularly difficult for young people who tend to have less work experience.

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Permanent link | Categories: Jobs

Latest Data on the Vacancy Rate

Posted on September 02, 2014 by Daragh McCarthy

Vacancy Rate Fact of the Week - Vacancy Rate Fact of the Week
Vacancy Rate Fact of the Week

The ratio of unemployed people to job vacancies is a measure of the extent of labour market tightness—the higher the ratio, the less opportunity unemployed individuals have to find employment. The current rate in Ireland is 24 people for every job vacancy available. This suggests the economy is still struggling to provide a sufficient number of jobs; however, the rate is a notable improvement on the second half of 2013 when there were 28.5 people available for work for each vacancy.

 

International comparison of the vacancy rate

 

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Permanent link | Categories: Jobs

Youth labour market still in recession

Posted on August 30, 2014 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

The week gone by brought some mixed news in regards to wages and employment trends in the Republic of Ireland.  The recovery in total estimated employment from about the end of 2012 has continued into 2014 but at a much reduced pace. At the same time, wages are dropping slightly on average (before account is taken of taxes and social transfers). And the estimated numbers emigrating are significantly down. The bottom line is that there are more people at work, wages are stagnating if not declining while fewer people are leaving to look for work abroad. These are the key points. In next week’s blog I will look at some recent wage trends while, this week, the focus is on the some aspects of employment trends that have received relatively little public attention so far.

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Ireland’s Low Pay Problem: time for a Living Wage

Posted on August 25, 2014 by Micheál Collins

Ireland joined a growing international living wage movement in July when the Living Wage Technical Group launched the 2014 Living Wage. In principle, a living wage is intended to establish an hourly wage rate that should provide employees with sufficient income to achieve an agreed acceptable minimum standard of living. In that sense it is an income floor; representing a figure that allows employees working full-time to afford the essentials of life. The figure for 2014 is €11.45 per hour, equivalent to €446 per week.

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Permanent link | Categories: IncomeInequalityJobsLabour costsLiving wageWages

Employment up, but wages ominous

Posted on August 13, 2014 by Paul Mac Flynn

UK Labour Market data released this morning show that the trend of rising employment and falling real wages is set to continue. At a UK-wide level, the decreases in unemployment are quite impressive, particularly for youth unemployment but figures for earnings at GB level paint a more sober picture. Regular pay in Great Britain was only up 0.6% from this time last year and with inflation running at about 2% this indicates a significant drop in real wages. We do not have reliable monthly earnings figures for Northern Ireland, only the Annual Survey of Hours and Earnings can report the extent of wage growth here. Interestingly there are indications that wages growth is stronger for those who have been in consistent employment for the last number of years. A lot of the weakness in wage growth may be due to compositional changes in the workforce i.e. people who have come back to work are in lower paying jobs than before. This has interesting implications for the recovery in the labour market in Northern Ireland as highlighted in a recent NERI working paper here.

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Permanent link | Categories: JobsNorthern Ireland Wages

Examining Unemployment Traps in the Republic of Ireland

Posted on July 29, 2014 by Micheál Collins

As individuals transition from unemployment to employment they experience losses of welfare payments and entitlements, gains in earned gross income and they begin to pay income taxes and social insurance contributions on their earned income.

To assess this impact it is possible to calculate a ‘participation tax rate’. It attempts to measure the collective impact of these experiences by estimating by how much changes to taxes and benefits reduce the financial gain of moving into work. A participation tax rate of 50% implies that half of the gains in earnings from commencing work are lost through changes to taxes and benefits.

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Permanent link | Categories: IncomeJobsLiving wageTaxationWages

Productivity a danger for UK and NI

Posted on July 16, 2014 by Paul Mac Flynn

There were conflicting messages in the statistics released today on the Northern Ireland economy and labour market. On the labour market side, both measures of unemployment have fallen significantly for the three months from March to May of this year. The claimant count (literally a count of those receiving unemployment benefits) shows a consistent decrease over the last 18 months. However a claimant count is an imperfect measure of unemployment as it only includes those entitled to claim benefits and is unresponsive to changes in those entitlements. More importantly the Labour Force Survey measure of unemployment decreased as well.

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Permanent link | Categories: JobsNorthern Ireland Wages

Latest data on youth unemployment

Posted on July 15, 2014 by Daragh McCarthy

As shown in the latest Quarterly Economic Facts , the youth unemployment rate in Ireland over the opening five months of the year was just over 25 per cent, down from a recent high of 30.4 per cent in 2012. While this represents a considerable improvement, the proportion of young people unemployed is still amongst the highest in the EU and there is data to suggest that many of these people have been looking for work for a long period of time—with 24,000 young people on the live register for one year or more.

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Unemployment falls, but at a slower rate

Posted on June 05, 2014 by Rory O'Farrell

Rory1 - Rory O'Farrell
Rory O'Farrell

The latest CSO data shows a stabilisation in unemployment rates when compared to the previous month. The standard unemployment rate is currently at 11.8% for May, identical to the rate in April, and 12.0% for the period January to March. This is equivalent to roughly 4,300 less people unemployed.

Though the rate has continued to decline, it is declining at a slower pace than previously. A decline of 0.2% per quarter means it will take 8 and a half years (or autumn 2022) before unemployment reaches 5%.

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Permanent link | Categories: JobsMacroeconomics

Jobs, Wages, Homes

Posted on May 30, 2014 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Following 6 years of declining or stagnant living standards many people are wondering what the future holds. The gathering crisis of accommodation and social housing has caught many by surprise. While there has been a welcome pick up in employment and a very modest fall in unemployment these changes are tentative and it remains to be seen how fast we can move towards single-digit unemployment figures. Under-employment, unemployment, precariousness and poor-quality work experience are widespread and they impact on young people in particular.

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Permanent link | Categories: Government SpendingInvestmentJobsTaxationWages

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