Minister Donohoe welcomes CSO figures pointing to continued employment growth
- Employment in the third quarter of 2018 increased by 66,700 (3.0 per cent) relative to the same quarter in the previous year;
- Full-time employment increased by 44,200 (2.5 per cent) over the same period;
- The level of employment (2,273,200) is now at its highest level ever. Employment growth has now been recorded in the last 25 consecutive quarters.
- The increase in employment remains broad based with annual gains across most sectors and regions recorded by the CSO.
The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe TD, has welcomed the Labour Force Survey (LFS) data published today (Tuesday) by the CSO which shows continued strong momentum in the labour market. Minister Donohoe said annual jobs growth of 3 per cent was reported in the third quarter of 2018. This means there are now 2,273,200 people employed; the highest level ever.
Welcoming the figures, Minister Donohoe said: ‘Today’s figures confirm the continued strength of the labour market. The number of people at work continues to increase, with 66,700 additional jobs created over the year to the third quarter of 2018. There are now more people at work than ever before, with 2,273,200 people now in employment in Ireland. This is further evidence that the economy is performing well, that Government policy is working and that jobs-rich growth is being generated’.
“We have now seen 25 consecutive quarters of employment growth and, crucially, employment growth remains broad-based, with annual gains recorded in most sectors and regions. In parallel, unemployment continues to fall, with the unemployment rate reaching 5.5 per cent in October; the lowest rate since the beginning of 2008. Encouragingly, we are still seeing declines in long-term unemployment.
“While there are now more people at work than ever before, the Government’s job does not end here. We are now moving into the next phase of Ireland’s economic development. We must continue to implement labour market policies to further to support continued participation and engagement with the labour market, while working to safeguard the gains we have made in competitiveness in recent years. Increasingly our focus should not only be on job creation alone but also on the sustainability and productivity of jobs into the future. The forthcoming Future Jobs Programme 2019 will present a new strategic approach to sustainable economic growth and job creation as we approach full-employment. My ministerial colleagues and I will be engaging with stakeholders at the Future Jobs Summit this Thursday (November 22nd) in the Aviva Stadium ahead of the launch of the new strategy.”
Note to Editors:
On a seasonally adjusted basis, employment increased by 0.5 per cent (+10,700) to 2,265,000 from the second quarter of 2018.
The largest employment increases in the third quarter (in annual terms) were in construction (+17,900) and administration and support services (+12,500).