Joblessness higher here than in UK and US

The site, which now houses the Department of Social Protection and the Revenue.
The site, which now houses the Department of Social Protection and the Revenue.

Unemployment in Ireland remains higher than in the UK and the US despite plummeting well below the EU average, the latest figures show.

The proportion of the workforce without jobs was slightly more than 5pc in May this year compared with an average of 7pc across the 28 EU states.

However, it was only 4pc in the UK and 3.8pc in America.

The unemployment rate is the number of people who are out of work as a percentage of the entire labour force.

Unemployment ranged from a low of 2pc in the Czech Republic to 20pc in Greece.

The latest Eurostat figures show Ireland’s jobless rate is 14th out of the 28 EU nations.

They also reveal that unemployment among the under-25s stands at 12pc. There is little difference between the proportion of men and women without jobs.

Economist Dan O’Brien said although unemployment was higher in Ireland than in Britain, it was only by a small amount. He also pointed out that Ireland had one of the fastest job creation rates in the EU.

Mr O’Brien believes there is limited evidence that the Brexit vote has been damaging to the UK economy.

“It has been nothing major so far,” he said. “The shock of the referendum result was much less than I or most economists anticipated. When Brexit happens, there will be a hit, but the economy is still growing.”

Irish Independent

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