Live Register rises to four-year high

The Live Register rose to a four-year high in December, according to the latest data from the Central Statistics Office.

The Live Register rose to a four-year high in December, according to the latest data from the Central Statistics Office.

The number of people claiming unemployment benefits last month rose 2,100 last month to 171,800, when compared with November. This is the highest level since January 2004, when the register stood at 171,900.

While many of these job losses come as a direct result of the crash in construction activity, it is also clear that the number of new jobs being created is falling fast
Fine Gael Enterprise, Trade & Employment spokesman Leo Varadkar

Over the 12 months to December there was an unadjusted rise of 9.6 per cent or 14,987 people in the register total.

The register is not designed to measure unemployment and includes part-time and seasonal employees in receipt of allowances or benefits.

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The CSO said Ireland's standardised unemployment rate in December was 4.7 percent, the highest since August 2003. This compared with 4.6 per cent in November and a rate of 4.4 per cent recorded in the last quarterly national household survey.

The December rise in the number of jobless was smaller than in November, but analysts predicted sharper increases in early 2008 as the end of Ireland's decade-long property boom costs builders their jobs.

"It was inevitable that the slowdown in housing activity would lead to job losses in the sector," said Fergal O'Brien, senior economist at business group Ibec.

"This is now clearly evident from the trend in the Live Register during 2007."

"We expect a sharper jump in the register in January, as many housebuilders join the dole queues," Davy economist Rossa White said in a research note. "We have heard from our contacts that many housebuilders or related workers were not re-employed after Christmas."

The construction sector accounts for about 13 per cent of all Irish jobs and the job losses are likely to hurt consumer spending. The construction slowdown is bourne out by the fact that 1,900 males and just 200 females were among those who joined the register last month.

"Along with the recent fall in consumer confidence, these data clearly indicate that consumption growth will have to slow in the quarters ahead," Goodbody economist Dermot O'Leary said.

December's increase means the number of jobless claims rose by 15,100 year-on-year.

Fine Gael Enterprise, Trade & Employment spokesman Leo Varadkar said the data were further evidence of the Government's mishandling of the economy.

"While many of these job losses come as a direct result of the crash in construction activity, it is also clear that the number of new jobs being created is falling fast," he said.