Increase in number of unemployed for month of June
There has been a slight increase in the number of people unemployed in Ireland for the month of June, according to the latest figures from the CSO.
While the number of persons unemployed rose by 300 compared to the previous month, there are 30,000 fewer people unemployed compared to the same period last year.
Despite this month's figures, there are continued signs of job creation and a tightening labour market.
LinkedIn’s announcement that it plans to recruit 800 more employees by next summer is one of the larger announcements in recent months.
According to Andrew Webb, Chief Economist at Grant Thornton Ireland, what is even more notable to highlight is that LinkedIn’s ReturnIn scheme will come to the fore as part of the recruitment process.
"This move by LinkedIn is a prime example of how companies are having to think differently about how to attract talent in a tightening labour market. The war for talent requires agile tactics on many fronts," he said.
"At Grant Thornton, we are constantly looking at new ways of attracting talent, we launched a new refreshed and award-winning Grad campaign in 2018, and we are always working on ensuring our employee benefits are fit for purpose and adaptable for our people, in order to have the best possible working environment.
As the labour market tightens, another obvious source of talent is from outside the state. This has been a successful approach for some time now but housing supply and affordability is a constraining factor here.
"In 2017 the American Chamber of Commerce identified the need for 32,600 new apartments in Dublin by 2022 in order to sustain new jobs in multinational companies and growth in inward investment.
"With current supply running below demand, and projected to do so for some time, the housing issues of affordability and shortage are exacerbating.
"Solving the challenges around housing supply and affordability is going to require some innovative and radical thinking and may require a require a much bigger role for the state."
Meanwhile, Minister for Employment Affairs and Social Protection, Regina Doherty, welcomed the latest statistics.
“The drop in the unemployment rate in the twelve months from 5.9% in June 2018 to 4.5% in June 2019 is quite significant and, especially so when compared with February 2012, when it peaked at 16.0%," she said.
We have continued to make huge inroads into tackling unemployment in every region and, as a result, the country is now benefiting from a strong workforce and thriving economy.
“In the area of youth unemployment, the seasonally adjusted unemployment rate was 10.1% in June 2019 compared to 14.3% in June 2018.
"This is an improvement but I and my Government colleagues will continue to concentrate our efforts in providing the supports needed by our young people with apprenticeships and training.“
