- Employment in the second quarter of 2018 increased by 74,100 (3.4 per cent) relative to the same quarter the previous year;
- Full-time employment increased by 73,000 (4.2 per cent) over the same period – a very positive development;
- The level of employment is now at its highest level ever. Employment growth has been recorded in the last 24 consecutive quarters.
- The increase in employment remains broad based with annual gains across most sectors and regions recorded by the CSO.
Labour Force Survey (LFS) data published today (Tuesday) by the CSO show continued strong momentum in the labour market, with robust jobs growth reported in the second quarter of 2018. This marks the highest level of employment ever within the State. Welcoming the figures, the Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., said: ‘Today’s figures mark a milestone in the journey we have made in recent years in terms of getting people back to work and putting our economy back on an even keel. These figures show that the number of people at work continues to expand, with 74,100 additional jobs created over the year to the second quarter of 2018. There are now more people at work than ever before, with 2,255,000 people now in employment. This is evidence that the economy is performing well, that Government policy is working and that jobs-rich growth is being generated’.
“We have now seen 24 consecutive quarters of employment growth and crucially, that employment remains broad-based, with annual gains recorded in most sectors and regions. In parallel, unemployment continues to fall, with the unemployment rate reaching 5.9 per cent in July. Encouragingly, we are also seeing declines in long-term unemployment, which now stands at 2.0 per cent – and the youth unemployment rate, which, while still too high is at 15.4 per cent.
“Behind each of these additional jobs that are being added, is a human story; one of a jobseeker getting back on his/her feet, a household putting another salary on the table at the end of the week or the school-leaver joining the jobs market. It is for all of these reasons that the Government is committed to ensuring that these positive trends in the labour market are maintained. We will continue to implement active labour policies and work to safeguard the gains we have made in competitiveness in recent years to ensure that good, quality jobs continue to be made available for our people.
“With employment at its highest level ever recorded and the economy approaching full-employment we must also be alive to the capacity constraints that may present in some sectors, which could lead to overheating in the economy. As set out in the Summer Economic Statement, the Government is mindful that budgetary policy is not pro-cyclical. We will adopt steady, incremental and sustainable policies that continue to deliver improvements in public services and a robust economy now and into the future.”
Note to Editors:
- On a seasonally adjusted basis, employment increased by 0.8 per cent (+17,300) to 2,256,500 from the first quarter of 2018.
- The largest employment increases in the second quarter (in annual terms) were in construction (+17,800) and accommodation and food (+17,300).
- Peak youth unemployment rate was 33.4 per cent in 2012
- Peak long-term unemployment rate was 9.8 per cent in 2012.