Employment Figures

1. This Government inherited a jobs market in freefall
·        250,000 private sector jobs lost 2008-2010
·        45,000 jobs lost in exporting sectors 2008-2010

2. Since taking office we have been delivering on our plan to build a new economy. Part of this is supporting, through the Action Plan for Jobs, the transition from the old, failed economy reliant on property, banking and debt to a new, sustainable economy based on enterprise, exports and innovation.

3. The plan is working
·        Increase of 2,000 jobs per month in the private sector since we launched and commenced implementing the Action Plan for Jobs in February 2012
·        Overall employment up 20,000 in past year since we launched the Action Plan for Jobs
·        2012 showed the first annual increase in employment in five years
·        IDA has had two record years, with a net increase of 12,500 in employment in supported companies in 2011 and 2012
·        Enterprise Ireland had a record year in 2012, with a net increase of over 3,000 in supported companies in 2012
·        Exports have hit their highest ever levels, with 2012 total exports of €182billion at 16% above the pre-crisis high
·        Jobs in the exporting sector have increased by over 15,000 over the past two years
·        A large number of major announcements from Irish and multinational companies, eg. Kerry, Glanbia, Ebay, Paypal, Apple, Mylan.

4. Unfortunately as part of the necessary transition jobs continue to be lost in construction, domestic banking and the public sector as these sectors return to more normal levels
·        20,000 jobs lost in the public sector since we took office
·        12,000 jobs lost in construction since we took office

5. Today’s figures also show encouraging movements in unemployment and in particular long-term unemployment:
·        Unemployment rate has dropped from 14.1% to 13.7% – the first time since 2010 it has gone below 14%
·        The numbers of people unemployed has dropped below 300,000 for the first time since 2008 – and now stands at 292,000
·        The long-term unemployment rate has fallen from 9.5% to 8.4% in the past year

6. Many people are not yet feeling these changes and we have a long way to go, but it is encouraging to see that things are going in the right direction. The challenge now is to accelerate the transition by continuing to implement our plan – in the banking system, in the public finances and through the Action Plan for Jobs and Pathways to Work