Job loss slowdown does not mean we have turned corner, says INOU

The drop is the live register figure and the slowdown in redundancies may be welcome but it would be foolish to assume we have turned a corner just yet, according to the INOU. There are three main reasons the live register is falling, said Bríd O’Brien, head of policy and media with the INOU. One is the increased number of people engaging in education and training, two is the increased number of people emigrating, and three is the number of people who are not making the transition from Jobseekers’ Benefit to Jobseekers’ Allowance because of their family circumstances. By the end of October 2010, there were 51,385 redundancies, which is already the second highest redundancy figure Ireland has ever seen. Three sectors continue to dominate these figures: other services, building and civil engineering and other manufacturing. “The INOU is very conscious that a significant number of unemployed people are looking for supports to re-train themselves, to find a job but they cannot access any supports because they are no longer on the Live Register,” Ms O’Brien said. Meanwhile, Minister for Enterprise, Trade and Innovation, Batt O’Keeffe, has claimed the new figures showing a sharp decline in redundancies show Ireland’s economy is recovering. The number of redundancy claims received by the Department for October was 3,910 - down 40 per cent on the figure for last October. “That is the largest drop so far this year when comparing claims received in a given month with the equivalent monthly intake for last year,” Mr O’Keeffe added. “Overall, the trend in redundancy claims remains downward, with a steady month-on-month decrease since June.”