Wednesday, August 31, 2011

31/08/2011: Irish Live Register - unemployment's up in August

Live Register data for August shows that the seasonally-adjusted number of signees increased from 448,000 in July to 449,600 in August - a rise of 1,600 mom. The same rate of increase was recorded in June.

In 3 months through August, Live Register rose by 5,700, while in preceding 3mo period (through May) it was up 3,300. Year on year LR rose 4,600 in July or 1.04%, in August, yoy increase was 2,500 or 0.56%.

Live Register-implied unemployment rate rose from 14.3% in July to 14.4% in August.

Charts to illustrate:

Some more details on the latest figures:
  • In August, the numbers of those 25 years and older on the LR has increased by 2,000 (+0.55%) mom from 366,100 in July to 368,100. Year on year, this category of LR is now up 7,100 or +1.97%. For the 3 months through August, the number of LR signees rose 2.24% compared to the 3 months through August 2010.
  • Number of persons under 25 years of age on LR has fallen 400 in August, compared to July and now stands at 81,500. The number is down 6.54% yoy (-5,700).
  • Numbers of casual and part-time workers on LR in August stood at 85,296 (down 569 on July) - first monthly drop in the series since May 2011. Part-time and casual workers numbers are now up 7,014 yoy (+8.96%).
  • Numbers of non-Irish nationals on LR has declined 290 in August, compared to July, from 79,285 in July to 78,995 in August. Year on year, August numbers are up 138 (+0.18%)
  • Numbers of Irish nationals on LR have also fallen in August from 390,999 in July to 390,719 in August. This follows 11,972 increase in June-July and 15,058 increase in May-June. Number of Irish nationals on the LR are now up 2,653 in August 2011 compared to August 2010 (+0.68%).
In unadjusted terms there were 469,713 on the LR in August 2011, up 2,790 (+0.6%) over the year. This increase was, per CSO, "slightly less than that recorded in July 2011 (+3,460 or +0.7%) and is far less than the increase of 30,198 (+6.9%) seen in the year to August 2010."

Per CSO: "The number of female claimants increased by 5,888 (+3.5%), to 172,860 over the year while the number of male claimants decreased by 3,098 (-1.0%) to 296,853. This compares with increases of 14,419 (+9.5%) and 15,779 (+5.6%) for females and males respectively in the year to August 2010." Which suggests that we are still in the second stage of jobs destruction, with services jobs going at a faster pace and with women (traditionally last to be laid off) continuing to suffer from jobs destruction.

Perhaps the most worrisome sign of the labour markets flat on the ground is that the number of long term claimants continued to increase with 40.8% of claimants in August 2011 on the Live Register for one year or more. In August 2010 long term claimants made up 31.8% of the total Live Register. Further, per CSO: "The number of male long term claimants increased by 30,488 (+28.3%) in the year to August 2011, while the comparable increase for females was 12,688 (+31.3%) giving an overall annual increase of 43,176 (+29.1%) in the number of long term claimants".

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