140,084 left Live Register in last 12 Months to take up work
The Central Statistics Office (CSO) has just released figures that confirm that 140,084 people have left the Live Register in last 12 Months to take up work.
The official figures published today by the independent CSO also show:
· All 8 regions have seen their numbers on the Live Register drop in the last year, with the Mid West recording the largest drop of 13.8%. Dublin and the Mid-East accounted for 35% of the total drop in Live Register numbers over the year (15,757 of a total drop of 45,008) while the rest of the country accounted for 65% of the total drop.
· All 8 regions in the country saw their Live Register drop in the last month with the largest drops in the West (2.3%), Mid-West and the South West (both 2.1%).
· 140,084 people left the live register to take up work during the last 12 months. This means that the exit rate from the live register into work is running at almost 41% – up from 33% in 2012.
This last statistic provides an indication of the level of churn in the labour market and the degree to which new jobs opportunities are impacting on the numbers of people on the live register.
Every person who leaves the Live Register to take up employment saves the Exchequer approximately €20,000 per annum in reduced social welfare expenditure and increased tax revenue, and helps to create a reinforcing cycle of positive economic benefits.
Speaking today in Waterford, The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, where he made a significant jobs and investment announcement at Bausch and Lomb, a company which has gone through difficulties in Waterford in recent years, Minister Bruton said:
“People in Waterford, and across the country, know too well that every job lost is a life knocked off course and a community hit hard. Every extra job created however is a life back on track, a community improved and an extra wage packet in a local economy. That is why we have put job-creation at the heart of everything we do as a Government since we took office in 2011, and that is why we put in place new structures, through the Action Plan for Jobs and Pathways to Work, to deliver the extra jobs we need.
“We have made major progress since the Action Plan for Jobs was launched in early 2012, and the unemployment rate has fallen from 15.1% to 10% since then.
“Continued progress is not guaranteed, and is dependent on the continued implementation of strong, pro-jobs policies and reforms. However if we continue to implement the right policies we can have confidence that we can continue to support job-creation, achieve sustainable full employment by 2018 and ultimately create a better country for people to live in”.