Nash welcomes lowest unemployment figures in 7 years
Minister Nash has welcomed the latest figures from the Quarterly National Household Survey (QNHS) which shows that the unemployment rate is now at 8.9% -its lowest level in seven years.
The CSO figures for the fourth quarter of 2015 show that there has been an annual increase in employment of 2.3%. This is the 13th successive quarter showing increases in employment.
Minister Nash said, “These latest figures from the CSO show that this Government has helped to get 142,300 people back to work since the height of the unemployment crisis.
“The vast majority of these new jobs, 38,900, are full-time and the number of underemployed people has fallen substantially by 9.9%.
“12 out of 14 sectors of the economy are showing jobs growth, with construction in particular performing well with 8,900 jobs added in the final quarter of last year.
“This news is welcome, particularly for those 142,300 people whose lives have been turned around, for their families and the communities in which they live and spend the money they are now earning. I’m also heartened to see that the long-term unemployment rate is continuing to fall, down from 5.8% last year to 4.7%. While this level is still too high, it shows that the plans we have are working.”
“Almost 90% of the jobs that were created last year are full-time jobs and we are seeing the level of underemployment continuing to fall. This exposes the naysayers who falsely claim that the jobs we are helping to create are part-time or precarious jobs. Today’s QNHS figures show that the contrary is the case. As Minister with responsibility for SMEs I’m also pleased to see that 1,000 new entrepreneurs took the plunge over the last year and registered as self-employed.”
“We still have a lot more work to do in order to reach the goal of full-employment by 2018, but I am confident that we will achieve that target.”
ENDS