Wednesday, April 10, 2013

10/4/2013: Broader measures of unemployment in Ireland: 2012

Ireland's broader unemployment rates per CSO and adding State Training Programmes participants are as follows:

  • PLS1 indicator is unemployed persons plus discouraged workers as a percentage of the Labour Force plus discouraged workers as of Q4 2012: 14.9%
  • PLS2 indicator is unemployed persons plus Potential Additional Labour Force as a percentage of the Labour Force plus Potential Additional Labour Force as of Q4 2012: 16.1%
  • PLS3 indicator is unemployed persons plus Potential Additional Labour Force plus others who want a job, who are not available and not seeking for reasons other than being in education or training as a percentage of the Labour Force plus Potential Additional Labour Force plus others who want a job, who are not available and not seeking for reasons other than being in education or training as of Q4 2012: 18.2%
  • PLS4 indicator is unemployed persons plus Potential Additional Labour Force plus others who want a job, who are not available and not seeking for reasons other than being in education or training plus part-time underemployed persons as a percentage of the Labour Force plus Potential Additional Labour Force plus others who want a job, who are not available and not seeking for reasons other than being in education or training as of Q4 2012: 24.6%
  • PLS$ indicator including those on State Training Programmes as of Q4 2012: 28.4%


And three charts with dynamics:



Now, y/y changes in percentage points change:
  • PLS1: -0.7 ppt
  • PLS2: -0.6 ppt
  • PLS3: -0.2 ppt
  • PLS4: -0.2 ppt
  • PLS4 and State Training Programmes participants: +0.98 ppt
So one thing is pretty clear: the broader the measure of unemployment we take, the lower is the rate of decline y/y and the smaller is the rate of decline relative to peak. 




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