The number of people in the Irish labour force is now almost 3 million, new figures show.<\/p>\n
The latest Labour Force Survey (LFS) indicated that the number of people working or seeking work rose by 31,300 (1.1 per cent) to 2.99 million in the second quarter of this year.<\/p>\n
Despite slowing global growth and increased geopolitical uncertainty, employment increased by 21,200 (0.8 per cent) to 2.84 million.<\/p>\n
At the same the State\u2019s jobless rate has increased.<\/p>\n
The survey indicated that there 151,000 classified as unemployed between April and June, corresponding to an unemployment rate of 5.1 per cent, up from 4.8 per cent in the same period last year.<\/p>\n
The Central Statistics Office (CSO), which compiles the data, said changes in the labour force are typically influenced by shifts in the size of the working-age population, otherwise known as the demographic effect. <\/p>\n
In recent years this has been driven by immigration.<\/p>\n
This \u201cpositive demographic effect\u201d contributed to an increase of 37,000 in the labour force in the year to the second quarter.<\/p>\n
The other factor driving increased levels of employment has been participation in the labour force, including female participation.<\/p>\n
However, the latest figures suggest labour market participation rate fell marginally to 66 per cent, down from 66.4 per cent in the same period last year.<\/p>\n
The female participation rate was unchanged at 61.3 per cent.<\/p>\n
The figures indicated that the sector which recorded the largest increase in employment was education, which rose by 14,200 people (5.9 per cent). <\/p>\n
The largest decline in employment was in the professional, scientific and technical activities sector, which fell by 17,100 people (8.2 per cent).<\/p>\n
\u201cThe labour market looks to have weathered the initial phase of the Iran conflict well,\u201d said Thomas Pugh, chief economist at leading audit, tax and consulting firm RSM Ireland.<\/p>\n
He said the jump in employment unwound a fall in the first quarter. <\/p>\n
\u201cGenerous fuel subsidies have limited much of the impact of higher oil prices on inflation and the economy,\u201d he said.<\/p>\n
\u201cGranted, employment growth will still moderate this year, but the economy remains strong enough to keep the unemployment rate around 5 per cent,\u201d Pugh said.<\/p>\n","protected":false},"excerpt":{"rendered":"The number of people in the Irish labour force is now almost 3 million, new figures show. The…\n","protected":false},"author":2,"featured_media":535713,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,14787,113,61,60],"class_list":["post-599199","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-central-statistics-office","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/599199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=599199"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/599199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/535713"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=599199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=599199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=599199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}