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Irish graduates protesting at the Famine memorial next to the Irish Center for Financial Services Photo by: Union of Students in Ireland

Unemployment rate in Ireland trebles - as 100 people per day emigrate

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Irish graduates protesting at the Famine memorial next to the Irish Center for Financial Services Photo by: Union of Students in Ireland

New statistics show that the number of people claiming unemployment benefit in October increased by 2,700. The number of people unemployed in Ireland now stands at 447,100 people or 14.4%, with 100 people emigrating every day.

An indicator of the changed times saw  The Irish Times launch Generation Emigration  (@GenEmigration ) and report that the emigration levels in Ireland continue as Irish who have recently been forced to leave the country due to a lack of opportunity keep in touch with their project, and their families, by Facebook, Twitter, email and Skype.

Recent studies show that the level of emigration in Ireland has not been this high since the Great Famine, over 150 years ago. In 2010 40,200 Irish naitonals emigrated. This number seems to be ever increasing.

The unemployment figure, also known as the ‘live register’, does not take into account the number of people who have had to quit Ireland due to long term unemployment or no chance of employment.

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The unemployment figures are significantly higher than the median estimate projected by five economists polled by Reuters. Their number was 443,000 in October and 445,000 by the end of the year. Ireland is already 2,000 people ahead of the estimate and still with two months remaining in the year.

Overall, the Irish economy has maintained a relatively stable unemployment rate of 14% over the past year. This number includes part-time, seasonal, and casual works.

Dermot O'Leary, chief economist at Goodbody Stockbrokers said “The live register figures are going to be quite volatile on a monthly basis. I would say that the unemployment situation has been stable at a very, very high rate since last September in the 13.9 to 14.8 percent (range) over the past year.”

According to Reuters, one way to revive the economy is to rely heavily on exports, but that, at the same time, requires a high level of consumer demand. The government will reveal its “fiscal adjustment plans” on Friday, which economists hope will encourage consumer spending.

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